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https://help.zenefits.com/Commuter_B...uter_Benefits/
There's the answer. If your employer offers the pretax benefit for both, you can take both pretax as long as it doesn't exceed the limit. I do not know of any employer that offers both, but it is permitted.
https://help.zenefits.com/Commuter_B...uter_Benefits/
There's the answer. If your employer offers the pretax benefit for both, you can take both pretax as long as it doesn't exceed the limit. I do not know of any employer that offers both, but it is permitted.
I'm a little confused.
So is this like a Flex account, where it is MY money, or is this a subsidy with money from the employer?
I'm a little confused.
So is this like a Flex account, where it is MY money, or is this a subsidy with money from the employer?
It is your money, like a 401k plan. The advantage is you pay before taxes so you save money. Example: your monthly train pass costs $200. You are in the 25% tax bracket. It only costs you $150 out of pocket.
The Federal program is a pre-tax deduction that allows you to use this money to buy a transit pass. It's usually handled by and outside company such as Commuter Check Direct
There are also individual company programs that will pay for a bus/train pass for those that use mass transit. These are not as common and usually only cover the cost of bus/train or car pool.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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The question is not on transit subsidies, because parking is not transit. We recently ran into this. Parking is considered a non-taxable benefit only up to a certain point, based on the value. In our case the value exceeded the limit so those with free parking at both locations have to choose one only and get validated when at our other facility.
The transit subsidies that we get do not include parking if that is not free, however our transit centers and Park & Ride lots are free. The employer pays for that transit pass, not the federal government, except for the federal employees in the D.C. region.
In our state (and others) there is a commute trip reduction law that requires government agencies to take action to help get cars off the road, including an annual survey of employees. This is main reason they pay for the transit cards. Some private companies also pay for them, but their motivation is more likely overcrowded parking lots/garages as they increase their workforce.
I'm trying to figure out this...if I take mass transit to work, will the Federal government pay for some or all of the transit costs AND parking at the station?
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