Advisory
Withum Adds Childcare Expense Reimbursement Program as Benefit for Firm Staff
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.
Nov. 01, 2021
WithumSmith+Brown, PC (Withum), a nationally-recognized CPA and advisory firm ranking in the top 25 firms in the country, has 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,” states Theresa Richardson, Chief Talent Officer at Withum. “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.”
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,” says Bill Hagaman, Withum’s CEO & Managing Partner. “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.”
Withum is Great Place to Work certified and ranks #12 on Vault’s Top 50 Best Accounting Firms. Learn more about Withum’s team member benefits and unique culture at www.withum.com/careers.
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. For more information, please visit www.withum.com.