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Providing Education Assistance to Employees? Follow These Rules

Many businesses provide education fringe benefits so their employees can improve their skills and gain additional knowledge. An employee can receive, on a tax-free basis, up to $5,250 each year from his or her employer for educational assistance under a “qualified educational assistance program.”

For this purpose, “education” means any form of instruction or training that improves or develops an individual’s capabilities. It doesn’t matter if it’s job-related or part of a degree program. This includes employer-provided education assistance for graduate-level courses, including those normally taken by an individual pursuing a program leading to a business, medical, law or other advanced academic or professional degree.

Additional requirements

The educational assistance must be provided under a separate written plan that’s publicized to your employees, and must meet a number of conditions, including nondiscrimination requirements. In other words, it can’t discriminate in favor of highly compensated employees. In addition, not more than 5% of the amounts paid or incurred by the employer for educational assistance during the year may be provided for individuals who (including their spouses or dependents) who own 5% or more of the business.

No deduction or credit can be taken by the employee for […]

By |2021-05-05T21:48:05+00:00May 5th, 2021|business, education credit, employer|0 Comments

We’re Hiring! Interested in Joining a Fun, Vibrant Work Culture That Puts People First?

Interested in joining a fun, vibrant work culture that puts people first? Want to make an impact on the community, work together as a team to solve client’s financial needs, drink copious amounts of really good, local, organic coffee? Looking to join a company that has won Best Place to Work for 10 years in a row?

We are always looking to add the right folks to our team. If you are interested in a career in accounting, have your CPA license, enjoy a team approach, we might be your match made in heaven.

It’s not all work here either. We serve the community together, build bonds on our annual team retreats and celebrate our successes with our families on annual, company wide vacations. Recent firm trips have included Spain, Croatia, Disneyland and Alaska. We don’t strive for work life balance, we live it and champion for it. We appreciate everyone’s contributions- big or small. Sound enticing? Interested in working at a not-so-typical CPA firm? Let us know if our creative accounting culture might be right for you.

For details:

By |2021-04-06T18:51:32+00:00April 6th, 2021|hiring|0 Comments

The Power of the Tax Credit for Buying an Electric Vehicle

Although electric vehicles (or EVs) are a small percentage of the cars on the road today, they’re increasing in popularity all the time. And if you buy one, you may be eligible for a federal tax break.

The tax code provides a credit to purchasers of qualifying plug-in electric drive motor vehicles including passenger vehicles and light trucks. The credit is equal to $2,500 plus an additional amount, based on battery capacity, that can’t exceed $5,000. Therefore, the maximum credit allowed for a qualifying EV is $7,500.

The EV definition

For purposes of the tax credit, a qualifying vehicle is defined as one with four wheels that’s propelled to a significant extent by an electric motor, which draws electricity from a battery. The battery must have a capacity of not less than four kilowatt hours and be capable of being recharged from an external source of electricity.

The credit may not be available because of a per-manufacturer cumulative sales limitation. Specifically, it phases out over six quarters beginning when a manufacturer has sold at least 200,000 qualifying vehicles for use in the United States (determined on a cumulative basis for sales after December 31, 2009). For […]

By |2021-02-03T22:48:29+00:00February 3rd, 2021|credit, tax credit|0 Comments

Happy Thanksgiving From the Linkenheimer Team

It’s been a crazy year, but during these trying times we wanted to take a minute to express our thanks and gratitude to our clients, friends, family and the community that we are so fortunate to be a part of. We feel truly blessed to be able to work with you and we appreciate the trust you put in us. We wish you all a healthy, happy Thanksgiving holiday.

By |2020-11-25T22:51:50+00:00November 25th, 2020|Uncategorized|0 Comments

Thank You Team! Best Place to Work Winner for 2020

Thank You!

For the 10th year in a row, we’ve been honored to win the Best Place to Work Award by the North Bay Business Journal. This award is truly a testimony to the amazing team we have here at Linkenheimer. We have always said that our people are the cornerstone for our success and we work hard to put them and their families first. Their passion, dedication and commitment to the community, clients and our company culture has allowed us to thrive, even in these trying times. We are incredibly grateful for the team and leadership we have and this award is a wonderful recognition for all of them. At Linkenheimer, we strive to provide an incredible work environment and company culture, that allows everyone the opportunity to positive engage with the team, our clients and the community. Our culture and firm values help drive and determine our interactions and decisions, allowing us to have a cohesive mission that we all work hard to achieve. We want to thank each employee, client and community member for […]

By |2020-09-23T14:54:14+00:00September 23rd, 2020|award, best place to work|0 Comments
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