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Ticket To Ride
Entrepreneur, July, 2001 by Chris Sandlund
You can help ease your employees' commuting pain. A new government tax break allows companies to hand out up to $65 ($100 starting January 11 worth of vouchers per month for public transportation as an untaxed benefit. The best part about the vouchers is that they can be used across multiple public transit agencies.
Many firms offer the program as an employee-paid benefit. The $65 is deducted from employee paychecks as pretax dollars. Employees benefit by cutting their taxes. In most cities, the company wins by substituting the 3 percent administration fee for all the usual employment taxes. In some cities, companies don't even have to pay the administration fee because the transit agency pays it.
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Participating transit agencies are listed on the Department of Transportation's site at www.fta.dot.gov/library/policy/tbpvpd.htm.
CHRIS SANDLUND is a former editor of Success magazine.
COPYRIGHT 2001 Entrepreneur Media, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
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Most Popular Articles in Business
- Research and Markets : Tesco Plc - SWOT Framework Analysis
- Do Us a Flavor - Ben & Jerry's Issues a Call for Euphoric New Flavors
- eBay made easy: ready to start an eBay business? These 5 simple steps will ...
- Katrina's lawsuit surge: a legal battle to force insurers to pay for flood ...
- Wal-Mart's newest distribution center opened last month near the southwest ...
- More »