Attracting and retaining skilled employees is crucial for small business success—especially in industries where workers invest heavily in their own equipment, like automotive repair. One underused but powerful financial strategy? A tool reimbursement program.
In this episode, we dig into how a well-documented, IRS-compliant plan can help you stand out in a competitive hiring market. Done right, this kind of program offers a tax-free benefit to employees and a deductible expense for your business—a true win-win.
You’ll learn what it takes to build a legit accountable plan, how to stay compliant, and why it’s more than just a perk—it’s a smart retention tool. We also cover key accounting tips to help you avoid common mistakes and get the full benefit for your team and your bottom line.