If you company provides Tution assistant. Is there any tax benefit?
- posted
15 years ago
Tax credit
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- posted
15 years ago
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
- Vote on answer
- posted
15 years ago
Tax benefit for who? The company? The employee?