Commuter Tax Benefits
Did you know that implementing programs to promote alternative commute options can be good for your bottom line too? Under federal tax law, you can provide your employees up to $255 per month for transit and vanpool expenses or $20 per month for bike expenses.
Your employees can set aside these pre-tax dollars through your payroll system to cover their monthly commuting costs, which also reduces their taxable income. And, as an employer, this benefit lowers your payroll taxes. It’s a win-win for you and your employees.
Find out how much you could save!
Are you interested in taking advantage of commuter benefits? Should you join your local RTA’s program?
Transportation Demand Management
Your efforts to promote alternative commute options don’t have to stop there. There are a number of things your organization can do to encourage your employees to try options beyond solo commute to work. These strategies, known as Transportation Demand Management (TDM), can range from subsidized transit passes to providing secure bike parking for employees to offering reductions on health insurance premiums for employees who bike or walk to work.
Each year, employers throughout Northeast Ohio who offer TDM options for their employees compete for the NOACA Commuter Choice Awards. You can earn recognition – and some great prizes – for your efforts. Commuter Choice is also a great way to learn more about what other employers are doing around TDM in Northeast Ohio.
Want more information on options and best practices for workplace TDM programs? Gohio Commute is here for you. Our TDM experts can provide you with resources and information on what you can do to help your employees try alternative commute options, save money, improve their health, and enhancing air quality. And our TDM consulting is always free for Northeast Ohio employers.
For more information and personal assistance please contact Gohio Commute staff at 1-800-825-RIDE (7433) or send us an email.