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    jillianleab's Avatar
    jillianleab Posts: 1,194, Reputation: 279
    Ultra Member
    		  
    #1

    Aug 11, 2008, 12:25 PM
    Business Tax Credit for Tuition Reimbursement
    I've scoured Google with no luck... I'm hoping someone here can help.

    The company I work for currently reimburses employees for tuition expenses up to $2500/year. Someone recently mentioned the tax benefit for the company is the same if they offer up to $5000/year reimbursement. Can anyone verify this? Apaprently the $2500/year is an old policy, so it's possible the laws have been updated since. The company is in VA, and we have about 260 employees.

    Any help would be great.

    Thanks!
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Aug 12, 2008, 08:38 AM
    Refer to Chapter 11 of IRS Pub 970 for details.

    The amount of educational reimbursements that can be excluded from your income is capped at $5,250.
    jillianleab's Avatar
    jillianleab Posts: 1,194, Reputation: 279
    Ultra Member
    		  
    #3

    Aug 12, 2008, 10:38 AM
    Thanks! :)
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Aug 13, 2008, 09:59 AM
    Glad to help!
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