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A cafeteria plan - also known as a Section 125 plan, after the portion of the IRS code that regulates the plans - lets employees redirect part of their salaries and wages to pay for certain benefits.
A cafeteria plan or cafeteria system is a type of employee benefit plan offered in the United States pursuant to Section 125 of the Internal Revenue Code. [1] Its name comes from the earliest versions of such plans, which allowed employees to choose between different types of benefits, similar to the ability of a customer to choose among available items in a cafeteria.
Thus, one could use the entire amount on day one of the plan year, terminate employment on day two of the plan year, and contributions would have been none or negligible (e.g., perhaps 1/26 in the case of biweekly contributions). The "free" money is not taxable because the IRS views these plans as health insurance plans for tax purposes. [21]
The tax code has changed a lot recently, and there may be some confusion among filers about whether or not education expenses are tax-deductible. Though the standard tuition and fees deduction ...
A Qualified Employee Discount is defined in Section 132(c) as any employee discount with respect to qualified property or services to the extent the discount does not exceed (a) the gross profit percentage of the price at which the property is being offered by the employer to customers, in the case of property, or (b) 20% of the price offered for services by the employer to customers, in the ...
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SOURCE: Integrated Postsecondary Education Data System, Texas Tech University (2014, 2013, 2012, 2011, 2010). Read our methodology here. HuffPost and The Chronicle examined 201 public D-I schools from 2010-2014. Schools are ranked based on the percentage of their athletic budget that comes from subsidies. Income sources are adjusted for inflation.
The J. T. & Margaret Talkington College of Visual & Performing Arts is a college at Texas Tech University in Lubbock, Texas. Prior to 2002, the college's departments existed within the College of Arts & Sciences. In 2016, the college was renamed to honor the nearly $70 million in donations to the university by the J.T. and Margaret Talkington ...