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EFPR Best in Class Podcast:
Tax-Free Benefits of Employees

For over 50 years, EFPR Group, LLP has been providing accounting and consulting services to our clients. As part of our commitment to our clients and business partners, Jim Marasco and David Veniskey have hosted a podcast on tax treatments of disaster relief payments under IRC Section 139 and tuition assistance under IRC Section 127.  Both of these sections of the law have been in existence for a number of years and are valuable planning tools for businesses.

Looking for a way to show your employees how much you care and appreciate them? This may be for you!

Original broadcast date was June, 2020
Podcast is approximately 15.53 minutes

Topics include:

Code Section 139The fundamental concept of Code Section 139 is that employees have incurred additional expenses as a result of a national emergency (cost of working from home, utility cost increase, upgrade of computer, child care, additional meal expenses, etc). Under this code section, business owners can give employees a tax-free payment (deductible to the business) as a result of them being displaced from routine due to the pandemic. The employer only needs a sense of the additional cost incurred and provide up to that amount in a fully deductible allowance that is not subject to taxation upon receipt by the affected employee.

Code Section 127Under the CARES Act all payments by a business, for qualified student loan interest or principle (on amounts up to $5,250), will be a tax deductible payment to the benefit of the employee with no tax consequences to the employee. Only applicable until December 31, 2020 and a written plan document is required.

This webinar applies to all business owners/executives who have received disaster relief payments.

James I. Marasco, Managing Partner
David P. Veniskey, Tax Partner

Contact Us:
If you think this is applicable and are interested in more specifics of these programs, please feel free to contact us by writing to info@EFPRgroup.com

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