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Posted by Chris Ruehrwein on July 10, 2008, 10:54 am
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If you company provides Tution assistant. Is there any tax benefit?
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Posted by Mark Bole on July 10, 2008, 11:25 am
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Chris Ruehrwein wrote:
> If you company provides Tution assistant. Is there any tax benefit?
Yes, in most cases. It does not show up as a credit, but rather as
income not included in your W-2 box 1 amount.
If your employer is an educational institution, see Pub 970 ch. 1 for
the rules, generally you can receive a tuition reduction tax-free.
Otherwise, if your employer has a qualified plan, up to $5,250 of
educational assistance can be excluded from wages for tax purposes, see
Pub 970 ch. 11 (or better yet, ask you employer).
-Mark Bole
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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Posted by Bill Brown on July 10, 2008, 1:39 pm
Please log in for more thread options > If you company provides Tution assistant. Is there any tax benefit?
Tax benefit for who? The company? The employee?
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<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
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