2013 Qualified Commuter Benefits $245 Monthly for Transit Expenses and $245 Monthly for Parking Expenses:
Congress extended Qualified Transportation Fringe Benefits (Section 132(f)) through December 31, 2013. The American Taxpayer Relief Act of 2012 increased transit and vanpool tax free benefits from $125 to $240 retroactive to 1-1-2012, and now up to $245* per month in 2013.
Most employers can provide:
Tax free transit and van-pool benefit limit increased from $125 per month in 2012 to $240 per month beginning January 1, 2012 (the ACT made it retroactive for 2012 calendar year). For 2013, the amount was increased to $245.
Tax free parking benefit limit increased from $230 in 2011 to $240 per month beginning January 1, 2012. For 2013, the amount was increased to $245.
Core Documents provides employers with everything they need to establish a Section 132 Commuter Plan for only $99 plus $15 shipping and handling. Click on the “Section 132 Transit Plan” hyperlink in the blue right side bar for more information.
Section 132 commuter transit and parking expenses that do qualify for reimbursement:
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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.
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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.
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Commuter Highway Vehicle (Van pool):
- 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 & Commuter, Van-pool Expenses
$245.00 per month for 2013.
- Qualified Parking
$245.00 per month for 2013.For a calendar year, $20 multiplied by the number of qualified bicycle commuting months during that year for qualified bicycle commuting reimbursement of expenses incurred during the year.
Commuter transit and parking expenses that do not qualify for reimbursement.
- Walking.
- Carpooling.
- Rollerblading or Rollerboarding to work.
