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Scholarship

lhilllhill 334 Posts
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We have a college intern who is a real asset to our company. We would like to give him assistance with his tuition without his having to pay it back or pay taxes on it. Has anyone ever given a scholarship for someone like this? We would like to groom him to be a future employee (no employment contract would be involved). Thanks.

Linda
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  • marcmarc 3,126 Posts
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    There are some ways to give him this assistance without minimal tax consequences. There are enough complexities that you should get your tax guy involved to make sure it works the way you want it to.

    No pay back is involved in a scholarship. But work out what you expect on the back end (like working for you for x years or months) so you don't end up educating him for someone else, if that matters to you.
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