Buses, Trains Ferries and . . . Only one person can receive the parking benefit. The Parking Connection Those who have to drive to make a connection to public transportation may be eligible for the parking connection benefit. In recent years, residential growth and expansion has occurred away from the downtown urban areas, making it difficult to rely solely on mass transit. Commuter Choice makes it possible for commuters to enjoy tax-free incentives for driving when the automobile is a part of the commute trip and mass transit is used for the remainder of the trip.
Employers can pay for the benefit and receive an equivalent deduction from business income taxes.
Eligible parking costs may be provided as a direct benefit, a pre-tax deduction, or as a shared expense. The same tax savings, reduced payroll costs and program flexibility apply to eligible parking expenses. But We Provide Parking Cash out and Convert Many employers provide free or subsidized parking for employees, making it more economical for the employee to commute by automobile. The goal of Commuter Choice is to make it as economical for employees to use mass transit. Your employees may forego parking and cash out the value of the parking benefit.