Again, the result is reduced parking demand. You save in less payroll taxes and other related expenses a win-win solution. This is an incentive for employees since all or a portion of their commutes is being paid for AND it is not considered taxable income to them. Your company can deduct the amount as business expenses, regardless of the amount. For example, if you purchase an employee's bus pass or vanpool seat, you can deduct the whole amount as a business expense.
Employees also enjoy a substantial tax savings.
You may decide to split the cost of bus passes or vanpool fares with your employees. Keeping the community vibrant is paramount to our future success. Commuter-friendly buildings and orientations that encourage carpools, transit, biking and walking will be necessary in the future to recruit and retain tenants. CTN can provide guidelines to make your property more commuter-friendly. Time and people.