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.
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- Changes in benefits? Make sure employees on military leave get written notice, too
- Help lighten the health care cost of obese workers
- New Benefit: Bike Commuters Get Reimbursement Incentives
- Help employees improve their job performance tax-free