I completely missed this important bit of news until Murph brought this to my attention: The maximum amount of the pre-tax transit benefit has nearly doubled from $120 to $230 per month!
I currently get the maximum $120 benefit from my employer but still pay $92.75 each month out of my pocket for public transportation. I need to ask if this extra benefit is available at my work.
BART news has more information.
In other news, at least one company that processes transit commuter checks now offers commuter checks for the bike commuter benefit. Accor Services is one of many HR outsourcing providers that manages a commuter check benefit program for businesses. Similar to current Commuter Check programs for public transit and parking, employers can offer the bicycling benefit as a pre-tax salary deduction, saving on taxes for the individual and the company or as a subsidy, which is also tax deductible for the company. Commuter Check for Bicycling vouchers are valid for all IRS allowable purchases using the bicycle benefit including new bicycle purchases, bicycle parts, equipment and accessories, as well as bicycle storage costs. Vouchers are redeemable at a number of dedicated bicycle shops and bicycle parking and storage locations across the country (thought I have't identifed what these bike shops are, yet).
I'll post this news again on Monday, when people are actually browsing the web from their offices for those fortunate enough to still be employed. Unemployment in California is now at 10.1%
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SUN gives you $120? My money is still "out of pocket", it's just out of pocket before the government gets a slice... :)
ReplyDeleteYep, commuter benefit is over my regular salary. I get a VTA EcoPass and a few dollars in Commuter Checks for Caltrain.
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