Transit Center

Now, you can ride your way to tax savings, with Mass Transit and Parking Reimbursement Accounts.

 Personal Mass Transit and Parking Tax Savings Calculator

Mass Transit and Parking Reimbursement Accounts allow you to set aside a portion of your salary on a pre-tax basis to pay for eligible expenses. By utilizing these accounts, you can save hundreds of dollars each year in taxes! Click here for a listing of eligible expenses.

No matter how you get to work--bus, train, subway, vanpool, or ferry a Mass Transit Reimbursement Account saves you money on your commute. You can save up to $950.00 a year on mass transit! There's even better news. By purchasing your transit passes with the BeneFlex Convenience Card, you can save time, eliminate paperwork and increase your savings! Soon, you'll even be able to enroll online and have home delivery of your monthly pass.

If you pay to park your car so you can get to work, you may as well save money while you are at it. By establishing a Parking Reimbursement Account, you'll be using pre-tax income to pay for parking charges. You can save up to $950.00 a year on parking! Now, it's easier than ever to pay for parking with a swipe of the BeneFlex Convenience Card.

It's simple: You elect to set aside a certain amount of pre-tax earnings to cover qualified costs that you incur commuting to work. You designate an amount for Mass Transit (up to the 2010 statutory limit of $230.00 per month) and a separate account for Parking expenses (up to the 2010 statutory limit of $230.00 per month). As you incur expenses you pay utilizing the BeneFlex Convenience Card and the money is automatically deducted from your funded account. Of course, you need to keep a receipt for these qualified expenses in case verification is needed. You also have the option of paying separately and submitting a form to BeneFlex for reimbursement. It's that easy!

To learn more about Mass Transit and Parking Reimbursement accounts Click Here.

Eligible Mass Transit and Parking Expenses

 Transit Passes:

• A pass, token, fare card, voucher or similar item entitling a person to transportation on Mass Transit facilities or provided by a person who transports people for compensation or hire in a vehicle which seats at least six adults, excluding the driver.

 Qualified Parking:

• Parking provided on or near the employer's business premises or at a location from which the employee commutes by carpool, commuter highway vehicle, etc.

 Commuter Highway Vehicle:

• Transportation provided by an employer to an employee, in a vehicle which seats at least six adults (excluding the driver), in connection with travel between the employee's home and work, provided that 80% of the vehicle's mileage is reasonably expected to be for transporting employee from home to work or on trips where at least half of the adult seating capacity is filled by employees.

 Expense Limitations:

• Transit Passes
  • $230.00 per month for the calendar year 2010.
    
• Qualified Parking
  • $230.00 per month for the calendar year 2010.
• Commuter Highway Vehicle
  • $230.00 per month for the calendar year 2010.