Tax Incentives
Congress has increased the monthly cap on transit and vanpool benefits to $230, effective immediately. The increased maximum brings parity to the financial incentive to take public transportation.
Equal benefit, equal incentive
The transit benefit plays an important role in the way employers can directly impact their employees’ commuting habits; along with the positive impact on roadway congestion and improved air quality. Plus, increased participation in commuter benefits increases employers’ payroll tax savings. With this increase, employers can offer employees up to $230 per month in pre-tax transit/vanpool benefits. The change can save commuters with the longest and most costly commutes more than $1000 per year on average in tax savings; this significant increase could also potentially encourage many more commuters to take public transportation, which would result in tremendous environmental benefit for America’s traffic congested cities.
For more tax savings information check out the tax calculator.
Want to save money on your commute on your public transportation?
Click on the New Transit Brochure to learn more.
Beeline Pass Program
SAVE MONEY!
ENROLL IN THE BEELINE PASS PROGRAM
Save money by purchasing your Beeline passes with your pre-tax earnings. Encourage your employer to enroll you in the new Beeline Pass Program.
As of February 17, 2009, you can save up to $230 per month in pre-tax savings.
Your employer can also save money too, by making Beeline passes available through payroll deductions.
The Beeline Pass Program works in one of three ways:
- As a pre-tax payroll deduction from an employee's earnings
- As a fully paid transportation fringe benefit offered by employers as part of an employee's existing salary and compensation package
- As a shared cost contribution where the employer pays a portion and the employee pays the balance with pre-tax earnings
The Beeline Pass Program is an authorized tax-free benefit by Section 132 (f) of the U.S. Internal Revenue Code. The amount an employee deducts for the Beeline Bus passes is not subject to:
- FICA
- Unemployment
- Workers' Compensation / Disability Insurance
All employers costs can be tax-deductible as a business expense. The amount an employee receives or deducts is not subject to federal taxes.
When the employee saves, the employer saves!
Enroll today by calling the TMACC at 610-993-0911.
The simple act of driving to work can drive your employees insane.
That's why SEPTA offers four programs for corporations that want to provide Transit Benefits for their employees. The Federal Tax Code (132F) allows for employees to receive $230 per month as a tax-free employee benefit.
You can help your employees get to work stress-free and with more change in their pockets. Click on the link below to decide which program works best for your workers. If you have general questions or wish to schedule an appointment with a SEPTA representative, please call 215-580-7138.
http://thecommuterschoice.com/index.php
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TRANSPORTATION MANAGEMENT ASSOCIATION OF CHESTER COUNTY |
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