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What you should know about educational assistance programs

Based on the information provided in the scenarios below, would you be able to write off the educational assistance provided to employees?

  1. A detailed educational assistance plan is verbally delivered to employees during a comprehensive benefits meeting.
  2. Due to the technical nature of your company, anything under $9,000 is covered and is a tax write off.
  3. Any employee at any pay level may participate in the educational assistance program.

Click below to see answers.

What you should know about educational assistance programs: Answers

  1. No. The plan must be a written plan.
  2. No. The annual reimbursement maximum is $5,250.
  3. Yes. The program must not discriminate in favor of highly compensated employees.