Hofy equipment is rented, avoiding the need for special payroll reporting. When an employee leaves, we’ll either recover the equipment so no asset is left behind or you can give the employee the option to purchase it, so it’s not considered a ‘gift’. Either way, the employee won’t need to pay tax, and you won’t need to track asset values.
Hofy makes it easy for your employees to keep track of their home working expenses. We integrate with your company's payroll system to automate the tracking of these expenses for the purpose of reimbursement via tax deductions.
Demo Hofy today to see how you can eliminate expense reports and manual payroll adjustments, while remaining tax compliant.