Question: Our company makes interest-free loans to employees so they can buy home computers. The purpose of the loan program is to allow employees to hone their computer skills. Employees can take up to four years to repay their loans. Must we report the loans on their W-2 forms?
Answer: No. The type of loan you describe doesn?t need to be reported. What must be reported: the imputed interest. That is, the difference between your interest rate and market-rate interest must be reported if at least $10,000 is lent from an employer to an employee.
Like what you've read? ...Republish it and share great business tips!
Attention: Readers, Publishers, Editors, Bloggers, Media, Webmasters and more...
We believe great content should be read and passed around. After all, knowledge IS power. And good business can become great with the right information at their fingertips. If you'd like to share any of the insightful articles on BusinessManagementDaily.com, you may republish or syndicate it without charge.
The only thing we ask is that you keep the article exactly as it was written and formatted. You also need to include an attribution statement and link to the article.
" This information is proudly provided by Business Management Daily.com: http://www.businessmanagementdaily.com/33511/employee-loans-are-they-reportable-or-not "
Source: http://www.businessmanagementdaily.com/33511/employee-loans-are-they-reportable-or-not
oklahoma city thunder rajon rondo sunoco titanic ii babe ruth new jersey nets nba playoff schedule
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.