Code section 127 plans are qualified employer educational assistance plans that allow employers to offer up to $5,250.00 per year to employees in tax-free educational assistance.
Benefits are tax-free to the employee and also, exempt benefit payments for the employer. That means, no federal, state, local or FICA tax for the employee and no FICU, FUTA, SUTA or Work Comp expenses for the employer.
College Bound, Inc. offers two types of section 127 Plans; Corporate Plans and Small Employer Plans.
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1-651-253-1204