CARES Act and Student Loans
If you have employees with student loans, there is an often overlooked benefit included in the CARES Act. Employers can contribute up to $5250.00 per year toward an employee’s student loans and it will not count as taxable income to the employee. This is a great benefit in two ways; it stretches the impact of your employee benefit dollars, and it increases the amount of untaxed money paid toward student loans (standard repayment only allows […]