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A tool reimbursement is a payment for employee business (tool) expenses separate
from wages.
A tool reimbursement plan allows an employer to make payments to an employee for
the cost of his business (tool) expenses separately from payroll.
All of the amounts properly paid as Tool Reimbursements are non-taxable and not
considered income, and that means no payroll taxes for either the employee or the
employer.
The results are:
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BIG $AVING$ for employers & employees !! |
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