This article provides clarification on the main questions regarding the Donations Benefit.
Summary:
- What is this benefit and what is the associated tax exemption?
- What are the payment methods?
- Why do I not have this benefit available?
What is this benefit and what is the associated tax exemption?
This benefit allows you to contribute to non-profit organizations currently assisting Ukraine, exempt from income tax (IRS) and social security (SS) contributions. Currently, the list of eligible entities is limited, but in the future, it will be possible to contribute to more organizations.
What are the payment methods?
In your Coverflex app, you can select the organization you wish to support. Simply indicate the amount you want to donate and confirm that your help is on its way!
Why do I not have this benefit available?
The company can determine which benefits and payment methods will be made available for employees to use. If you do not have the benefit or a payment method available, it means your company has not included this option in your benefits package.