Compensation Strategies Group, Ltd.
Nova 401(k) Associates
Nicholas Pension Consultants
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|Show Employees You 'CARE' with Student Loan Repayment Assistance|
Apr. 26, 2021
"Prior to the CARES Act, any payments made toward an employee's education assistance were deemed as taxable wages to the employee, also resulting in payroll taxes charged to both the employer and the employee. Now an employer is eligible to contribute up to $5,250 as a tax-free reimbursement to each qualifying employee, per calendar year, saving the company payroll tax costs."
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