Commuter Tax Benefits
vRide is a leading partner with public agencies around the country to provide the safest and most-efficient form of public transportation -- Vanpooling. Commuter tax benefits are available for employees who vanpool. Under Section 132(F) of federal tax code, an employer can offer its commuting employees up to $125 per month for “qualified transit” costs. Commuter vanpooling is recognized by the IRS as a form of “qualified transit” along with bus, rail and ferry services. Employers can offer their employees the option of paying up to $125 of their “qualified transit” expense 1) as a pre-tax deduction or 2) as a tax-free benefit designed to encourage their employees to commute via transit or vRide vanpools. Most employees of the federal government are eligible for an employer-provided, commute-to-work benefit when they vanpool. Check with your HR representative, or give us a call to learn more about commuter benefits.
In addition, federal transit assistance grants help states and local governments and transit agencies cover their most of their capital expenses and some of their operating costs. In many areas of the country, vRide partners with these public agencies to contractually provide the safest and most-efficient form of public transportation… vRide vanpools! If you’d like to learn more about vRide and these grant programs, give us a call.