AboutJohn Stancil, CPA Expertise I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I teach tax and accounting at a small church-related college. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a part time tax practice for over 30 years. I am a member of the AICPA, National Society of Tax Professionals, and the Institute of Management Accountants.
Experience I hold a doctorate in Accounting, and four professional certifications: CPA, CMA, CFM, and CIA. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I write a monthly tax column for the local newspaper.
Question If my employer pays my student loan, is it considered income to me? Can they deduct it? If it is income, is it subject to FICA/Medicare?
Thanks
Answer Joe,
Thanks for your question.
If you employer has a tuition reimbursement plan, up to $5,250 of tuition reimbursement will not be income to you. If the payments covered costs of room and board, they would be income to you. If it is income, it is subject to SS/Medicare. The employer gets a deduction,
