Pay for qualified parking, transit and van pooling expenses using money you’ve set aside pre-taxes. A Commuter transit and parking plan can save you up to 40% of your commuter costs. Paying with pre-tax dollars allows you to save on transit passes, tokens, fare cards, vouchers, etc., when riding on mass transit, or when riding with someone in the business of transporting people for hire (it must be in a vehicle that seats six or more adults, excluding the driver).
The IRS sets a maximum monthly amount for the pre-tax payments made for qualified transit and parking expenses. This amount is updated annually by the IRS. You save both federal income tax and FICA (Social Security and Medicare) taxes by participating in the Plan.
Pay for transit passes with your ABG Benefits Card at your transit authority or can be purchased out-of-pocket and reimbursed from ABG.
Parking passes may be purchased with your ABG Benefits Card or can be purchased out-of-pocket and reimbursed from ABG.