Transit / Transportation Company Benefit
Up to $260/month* for transit benefit expenses
The Commuter Transit Account / Transportation company benefit is a pre-tax benefit account used to pay for public transit—including train, subway, light rail, bus, and ferry—as part of your daily commute to work. It’s a great way to put extra money in your pocket each month and make your commute more convenient and affordable. You may contribute to your account up to $260 per month on a pre-tax basis to pay for transit expenses, which means you end up paying less in taxes and taking home more of your paycheck
Commuter Parking Company Benefit
Up to $260/month** for parking at or near an employer’s work-site, or at a facility from which employee commutes via transit, van-pool, or carpool
The Commuter Parking Company Benefit is a pre-tax benefit account used to pay for parking as part of your daily commute to work, including parking at or near you place of work or at a location near where you take public transportation to get to work. You can contribute up to $260 per month on a pre-tax basis to pay for parking expenses
Commuter Shared, Group, Van-Pool, Company Benefits
Up to $260/month* for commute trip in a vehicle with a seating capacity of at least six adults (excluding the driver), with at least 80 percent of the vehicle’s mileage for a year is reasonably expected to be for commuting and on trips during which the number of employees transported for commuting is at least one-half of the seating capacity of the vehicle (excluding the driver)
Bike Reimbursement Company Benefit
The qualified bicycle reimbursement program was a tax-free reimbursement of bicycle expenses which was suspended by the recent Tax Bill through 2025.
Here is a link to the 2018 IRS Tax Guide to Fringe / Company Benefits
Offering company benefits can increase retention, help recruitment and make for a comprehensive and inclusive compensation package Fringe and company benefits are easy to administer, sponsor, and typically are cost positive, in a short period of time.
Additional company benefits to consider:
- Qualified transportation spending accounts (transit and parking)
- Child and Dependent care
- Insurance Benefits Like:
- Long Tern Care
- Group Life
- Education and Tuition
- Discount purchasing programs
- Voluntary Benefits
- Adoption Assistance
- Wellness and Assistance Programs