Unique to the public accounting profession, Withum announces new Childcare Reimbursement Expense Program.
Withum, a nationally recognized CPA and advisory firm ranking in the top 25 firms in the country, this week announced details related to their new Childcare Reimbursement Expense Program that will go into effect January 1, 2022. The program is intended to help reduce the burden of childcare costs and summer camp by reimbursing up to 25% of eligible childcare provider expenses.
With our goal of helping our team members financially, as well as retaining our most important asset – our talent – we hope many of our team members who are working parents take advantage of this new policy. It is a benefit that is currently not commonly available in the public accounting industry, based on the research and conversations we have conducted with many firms in the profession.
Chief Talent Officer, Withum
The policy outlines that childcare expenses are for qualifying dependents 12 years old or younger or up to 21 years of age for children with a disability. Additionally, the first $5,000 of this benefit, combined with a Dependent Care FSA, is tax-free.
At Withum, our priority is helping our team members achieve a balanced life that makes sense for them and their families. We understand many working parents need to make hard decisions about how to best balance a career while raising a family and managing household expenses. Our intent with the Childcare Expense Reimbursement Program is to help relieve some of the financial burden, giving parents more options for either more care or better care for their children so that they can go to work with peace of mind.
CEO and Managing Partner, Withum
Established in 1974, Withum is a national top-ranking public accounting firm providing advisory, tax and audit services to businesses and individuals on a local-to-global scale. Headquartered in Princeton, NJ, Withum has a presence in major financial centers, including New York City, NY, Boston, MA, Philadelphia, PA, Washington, DC, Orlando, FL, San Francisco and Irvine, CA. Withum is an independent member of HLB, the global advisory and accounting network.