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Commuter Tax Benefits

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If your employees commute via subway, train, bus, or vanpool, or must pay to park at the work site, a Qualified Transit and Parking Plan is a great way to help them save money each month on their commuting expenses.

Transit Plan Basics

All employees can participate Employees elect a salary reduction of up to $250 per month for parking, and $130* for mass-transportation The employer saves 7.65% on every dollar elected by not having to match FICA or Medicare Employees save 25% or more on their commuting expenses by paying with tax-free dollars

*Pending legislation would increase the mass-transit amount from $130 per month to $250 per month.

Pre-Tax Transit

  • $130/month maximum
  • Employer saves up to $119 per employee
  • Employee saves up to $546 per year!

 

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