Motus Guides

Cost of Living Differentials Guide

Issue link:

Contents of this Issue


Page 2 of 2

Motus is the definitive expert in anywhere workforce solutions. Its platform and proprietary software simplify the reimbursement and management of vehicle, device, work and living costs through personalized calculations. Powered by an unmatched pool of data, refined over more than 80 years, and updated in real time, Motus is the platform of choice for top Fortune 500 companies and organizations committed to workplace agility. Motus automotive data, captured and analyzed across the world's largest retained pool of drivers, also underpins the annual Internal Revenue Service (IRS) business mileage standard, the amount an individual can deduct for business vehicle expenses. For more information please visit or connect with us on Twitter, Facebook, Instagram or LinkedIn. © 2021 MOTUS, LLC Interested in learning more about the data-driven platform that powers our cost-of-living calculations? CHECK OUT OUR LIVING COST STANDARDS Family Size Family size is yet another factor impacting cost of living. A single person only needs one car. A family of two or more often requires a second vehicle. If there are increased fuel, insurance and other related costs in the new location this will impact a couple or family more than a single person. Family size also drives average apartment size needed for a rental and the average size of a home an individual or family will buy. Families will spend more at the grocery store and for other related consumables and are thus impacted more if these are higher in the new location than single individuals. Lastly, many states with a state income tax will have different tax tables for a single person than someone who is married and/or filing jointly. Credits for children are also calculated differently depending on the state. Cost of Living Calculations Cost-of-living calculations are dynamic and complex. Family size impacts housing size, transportation costs, taxes and goods/services expenditures. Being a homeowner or renter means that certain items may or may not be included and income drives every component of the results. Finding a fair and accurate cost-of-living calculation without including all these inputs/drivers isn't possible. COST-OF-LIVING DIFFERENTIALS: NOT A SIMPLE CALCULATION 3

Articles in this issue

Links on this page

Archives of this issue

view archives of Motus Guides - Cost of Living Differentials Guide