Telecommuters could get you a tax break
October 16, 2008 by Carol KatarskyPosted in: In this week's e-newsletter, Latest news & views, Tax compliance
If your company has any employees who telecommute, it could earn you a tax break soon. A new bill was just introduced in the House that would allow employers to take a credit against income tax. The credit would be based on the cost of telecommuting-related expenses and equipment.
If it passes, H.R. 7009 would allow employers to take a credit of up to $500 per telecommuting employee with a maximum total credit of $50,000. A “teleworking employee” is defined as any employee who works off-site for your company at least 20 hours a week.
Tags: Payroll, Pending bills, Tax compliance, Tax credit, Tax filing, Telecommuting