When making your tax preparations its important to not forget that employee education is deductible. These educational expenses typically include the cost of books, equipment, fees and tuition. Your company can claim a business deduction for educational employee benefits paid while at the same time, your employee does not have to count the reimbursement as taxable income.
Written By Curt Mastio, CPA of Founder’s CPA
For more information regarding Small Business Tax please see our Tax Services.