Get Paid Not to Drive

Whether you decide to go car-lite or car free you can get paid to park your car. Due to recent changes in IRS policy you have "pre-tax" benefits at your disposal.. Internal Revenue Code Section 132(a) provides for eight types of employee fringe benefits, including a transportation fringe. My employer uses Wageworks a benefits plan manager to administer the "back-office" portion of the plan,but it basically works like this:

I can choose any number of San Francisco Bay Area Transit systems, for example CalTrain or VTA. If I choose VTA; a one month Adult pass is $61.25 which is the amount deducted from my paycheck. At $735 for all twelve passes for the year that amount would be decucted from my wages saving some dollars at tax time. But thats not all. My employer reimburses me 50% of the VTA pass each month which means I am saving over 60% per month. When you also add the costs of gas, oil, maintence not incurred, your on your way to huge savings. For more information check 511.org - Commputer Tax Benefits page.