Transportation Plans
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 Transportation Plans

Avoid taxes on transportation plans if you take public transportation or qualified parking.

 
 

Qualified Transportation Plans
  
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n Parking Reimbursement Account:

 

qAllows you to pay for your daily or monthly parking expenses incurred for your parking at or near your work.

You can elect up to $255.00 per month for 2016 & 2017 to have deducted from your monthly paycheck TAX-FREE.

 

 

n Mass Transit Reimbursement Account:
 

qAllows you to pay for your mass transit expenses related to your commute to work.

You can elect up to $255.00 per month for 2016 & 2017  to have deducted from your pay TAX-FREE for qualified mass transit expenses.

(Note: For Transit accounts, The Commonwealth of MA maximum amount for inclusion is $130 as they did not increase the amount to $255, therefore up to $130 can be set-up pre-taxed for Commonwealth of MA taxes, $255 for Federal taxes)

 

Savings:

 
nYou can reduce your taxable income and avoid paying Social Security and Medicare Tax (7.65%) and Federal Income Tax (15% to 30%) and some State taxes by enrolling in your company sponsored Section 132 Benefits Plan.

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