Overview of Federal Income Taxation

Did you know a business can reimburse employees for education tax-free? Under IRS rules, employers can provide up to $5,250 per year in tuition assistance without the employee having to pay tax on it, and the business can generally deduct it as a legitimate expense. This applies to college courses, certificate programs, and qualifying education — and yes, business owners with employees (and in some cases owner-employees, depending on structure) can benefit too. It’s one of the most overlooked ed