Receive significant tax savings!
One significant economic benefit of Commuter Choice is tax savings. For example, suppose a business has 25,000 employees, and the business pays for 50% of each employee's transportation costs ($390 per year). The employees exchange $390 per year in taxable compensation for tax-free transportation benefits. The total paid by the employer, after tax deductions, is $5.8 million. In addition, the employer saves almost $1.0 million in payroll taxes on the portion exchanged by employees. If a company pays for the entire commute benefit, it may deduct the amount of the benefit as a business expense. For example, a business expense of $19.5 million lowers corporate Federal taxes by $6.63 million.
The CommuteInfoSM Program:
A Program of the Southwestern Pennsylvania
Commission
Regional Enterprise Tower
425
Sixth Avenue, Suite 2500 * Pittsburgh, PA 15219-1852
1-888-819-6110
Send Comments To:
CommuteInfo@spcregion.org
or call 1-888-819-6110
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