Commuter, transit, and parking FSA
Commuter, transit, and parking FSA
The Transportation Equity Act makes it possible for employees to use pre-tax dollars to pay for qualified work-related commuting and parking expenses. This represents a significant tax savings of up to 40 percent! (depending on tax rate)
Once you have contributed money into your Parking and/or Transit Account, you can use it to pay for parking and mass transit eligible expenses related to commuting to work tax free.