DEFINITION of 'Settling-In Allowance'

Money given to a person who has relocated for work to help them meet their immediate financial obligations upon moving. The settling-in allowance may be given as a lump sum or may be reimbursed upon submission of related receipts. A settling-in allowance might be used for expenses such as temporary lodging, meals, storage of personal belongings and other incidental costs of settling in at a new location.

BREAKING DOWN 'Settling-In Allowance'

Companies may assist employees who have to move for work, whether because of a transfer or a new job offer, in many ways. In addition to a settling-in allowance, they might award a relocation allowance or direct reimbursement for relocation expenses. Relocation expenses often include transportation, accommodation and meals for house hunting trips, temporary lodging upon arrival in the new location, moving company and storage costs, and costs associated with selling and acquiring a primary residence, such as real estate commissions and other closing costs. For temporary relocation, a company might provide both a settling-in allowance and a living allowance.

RELATED TERMS
  1. Cash Allowance

    An allowance that is paid out in cash, instead of being reimbursed ...
  2. Tranportation And Storage Costs

    An moving expense deduction related to the costs of a taxpayer's ...
  3. Moving Expenses

    Potentially tax-deductible expenses that are incurred when an ...
  4. Reimbursement Plan

    A generic term for several types of plans that reimburse employees ...
  5. Accountable Plan

    A plan for reimbursing employees for business expenses. Under ...
  6. Senior Move Manager

    Senior move managers (SMMs) help seniors downsize and relocate ...
Related Articles
  1. Managing Wealth

    Know Cost Of Living B4 Taking A Relocation Package

    Is that promotion or new job worth taking? Before accepting the salary and relocation package, calculate what it really costs to live in that new area.
  2. Financial Advisor

    Want to Relocate for Retirement? Be Realistic

    Here's how financial advisors can help retiring clients develop a realistic picture of relocation.
  3. Retirement

    Be An Expat The Easy Way: Relocation Services!

    A good relocation service can greatly ease the stress of moving abroad. Here's what to make sure it does – and what you need to do to prepare the way.
  4. Insights

    The Cost of a Road Trip Across the United States

    Estimate the cost of a road trip across the United States, and evaluate how the cost of such a trip has changed from 2015 to 2016.
  5. Investing

    US Banks Preparing to Relocate After Brexit

    As the UK is likely to lose its financial privileges with the EU following the Brexit vote, major US banks have begun preparations to relocate operations.
  6. Investing

    Dollar General Buys a Big Rival's Failed Stores

    One retailer's failed experiment has become another chain's opportunity. Dollar General (NYSE: DG) has purchased 41 former Wal-Mart (NYSE: WMT) Express locations across 11 states. The company ...
  7. Personal Finance

    Understanding Structural Unemployment

    Structural unemployment is an economic miss-match where workers fail to find jobs and employers with available jobs fail to find workers.
  8. Taxes

    Which Receipts Save Big Money at Tax Time

    Don't wait to April 13th to set up a smart receipt-filing system. These 7 categories could save you some significant money.
  9. Personal Finance

    Blue Apron Review: Is It Worth It?

    Read about one of the top meal-kit delivery services in the United States, and learn more about what it offers and how much it costs.
  10. Investing

    Is McDonald's Moving Its Headquarters to Chicago? (MCD)

    It's possible McDonald's wants to not only modernize itself to stay competitive, but relocating its headquarters could also be a fiscally-driven decision.
RELATED FAQS
  1. Are Flexible Spending Account (FSA) items tax deductible?

    Learn how contributions from a Flexible Spending Account (FSA) are not subject to taxation; however, the expenses paid from ... Read Answer >>
  2. How do waivers, reimbursements and recoupments affect a fund's expense ratio?

    Understand what waiver, reimbursement and recoupment agreements in relation to a mutual fund mean for the management fees ... Read Answer >>
  3. What are some examples of common fringe benefits?

    Learn how offering fringe benefits can be a strategic recruitment and retention tool for employers and drastically increase ... Read Answer >>
  4. How much inventory space is available in the United States to store oil?

    Find out how much available storage space there is for crude oil in the United States and why continuing rising supply levels ... Read Answer >>
  5. What are typical examples of capitalized costs within a company?

    Learn examples of capitalized costs such as expenses incurred to put fixed assets to use as well as software development ... Read Answer >>
Hot Definitions
  1. 403(b) Plan

    A retirement plan for certain employees of public schools, tax-exempt organizations and certain ministers. Generally, retirement ...
  2. Master Of Business Administration - MBA

    A graduate degree achieved at a university or college that provides theoretical and practical training to help graduates ...
  3. Liquidity Event

    An event that allows initial investors in a company to cash out some or all of their ownership shares and is considered an ...
  4. Job Market

    A market in which employers search for employees and employees search for jobs. The job market is not a physical place as ...
  5. Yuppie

    Yuppie is a slang term denoting the market segment of young urban professionals. A yuppie is often characterized by youth, ...
  6. SEC Form 13F

    A filing with the Securities and Exchange Commission (SEC), also known as the Information Required of Institutional Investment ...
Trading Center