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Pit Crew Products [back]
ERG
• Features
• Benefits
• Pricing
• Get Started
• Frequently Asked Questions (FAQs)
How can you and your employees save money?
The Tool Reimbursement Benefit program by ERG provides the answer. This Tool Reimbursement Benefit program is a highly successful, proven solution that enables financial stability and business growth, while increasing your employees' morale.
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ERG allows technicians to deduct 100% of their tools as a business expense.
Features
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Participating employees receive a separate tool reimbursement check that is exempt from payroll taxes, in addition to their regular paycheck. The sum of these two checks is consistently greater than an employee's previous single paycheck.
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Because tool reimbursement checks are not subject to income tax or FICA/ Medicare taxes, the net results are an increase in the employee’s take-home pay. Plus savings for the employer on matching payroll-related expenses.
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Administration of this program is simple and easy. Once your company and technicians are set-up on this program, the only ongoing administrative task for your company is responsible for is to report payroll one day prior to the delivery of payroll. |
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Benefits
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Your company benefits: reduced payroll expenses; attract highly-trained technicians; increase employee morale, loyalty and retention; encourages technicians to buy their own tools. |
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Your technicians benefits: increase take-home pay; simplified expense reimbursement for new tools; no enrollment fee; no out-of-pocket expenses; direct deposit available; two checks are better than one. |
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Pricing
For current pricing, please call (206.529.1408) or email us. You can also fill out our Request Information form.
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Get Started
Are you ready to take your business beyond the next level? Then contact us today to get started! Email us at info@pitcrewmarketing.com or call 206.529.1408 today.
You can also fill out our online Request Information form. One of our associates will contact you for a complimentary analysis of your automotive service and repair business.
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FAQs (Frequently Asked Questions)
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What is a Tool Reimbursement Benefit Program?
The Tool Reimbursement Benefit Program is an employee benefit plan that administers employee benefits as authorized under Title 26, section 1.132-5 of the Internal Revenue Code. The Program is designed for tooled employees who incur various types of employee business expenses while performing duties assigned to them by their employer. |
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How does it work?
For a benefit to qualify as a working-condition fringe benefit, it must be a benefit that would normally be deductible on an employee's personal income tax return had the employee purchased the benefit on his or her own as a necessary and ordinary business expense under Code Sec. 162. Under such a program, employees must keep adequate records and substantiate business use of these "fringes." |
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What is the impact on Social Security benefits and Workers Compensation to employees?
As the Program Administrator we ensure our enrollment specialist make full disclosure to interested participants during the enrollment presentation. In addition, part of our fulfillment process entails providing supporting documentation as part of their Benefit Welcome Kit illustrating potential adverse effects of W-2 income being reduced that he/she incurs and is reimbursed. |
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Can employees depreciate their equipment? Do they have to depreciate their equipment?
The employee is still the owner of the equipment and can depreciate the equipment if he chooses not to receive reimbursements through the Program. |
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