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Catch a tax-free ride to work

by on
in Employee Benefits Program,Human Resources

Q   I recall that you could use a tax-free fringe benefit for commuting and parking. Is this still valid? D.P., New York

A  Yes, the fringe benefit for transportation expenses under Sec. 132 still exists. For 2008, the maximum monthly amount an employee may receive on a tax-exempt basis is $115 for qualified commuting expenses and $220 for parking fees. These amounts are adjusted for inflation on an annual basis.

Tip: For this purpose, qualified “commuting expenses”refers to the value of employer-provided transit passes and/or van pooling.

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