Commuter Tax Benefit
The Commuter Tax Benefit program allows commuters the
opportunity to pay for a portion of their commuting expenses with pre-tax
dollars. This can result in a tax savings for commuters of more than $900 a year
and a reduced taxable payroll for employers.
As of March 2009, federal tax law allows
commuters to set aside up to $230 per month to pay for mass
transit and vanpool fares, as well as up to $230 for qualified
parking, for a combined total of up to $460 per month.
Commuter tax incentive programs are making a
difference to thousands of employees throughout the state. In
addition to monetary rewards, participants enjoy a less
stressful commute and take satisfaction in knowing they are
helping relieve congestion and reduce the environmental impact
of driving alone to work.
To see just exactly what you can save - use
this quick two-minute tool.
*This program is easy to set up and use and
must be implemented by employers before employees can use it.
For more information, contact your Human Resources department
and ask about the Commuter Tax Benefit program. If HR doesn't
already have Commuter Tax Benefit planned or in place, please
contact us
and we can see if it can be implemented.
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