For purposes of determining whether an employee fringe benefit is taxable to the employee, the same rules apply whether the employers are tax-exempt organizations or private sector businesses. If the employer has an educational assistance plan, then reimbursements up to $5,250 for any higher education costs are tax free. If the reimbursements are for courses that are job related, there is no dollar limit on the tax-free benefit.
A statutory method of depreciation allowing accelerated rates for most types of property used in business and income-producing activities during the years 1981 through 1986. It has been superseded by the modified accelerated cost recovery system (MACRS) for assets placed in service after 1986.