Metro SmartBenefits

[Vas Deferens]

Question for anyone who has it, since I can't reach Metro at this time.
 
 The Metro website says:
 Federal legislation allows employers to provide employees with a tax-free or pre-tax transit benefit of up to $110 per month and a parking benefit up to $215 per month.
 
 I understand the first part ($110), the 2nd part, I'm not sure about. Does this mean that the parking benefit is free to an employee, up to that limit? Or??
 
 Thanks  

[beetsnotbeats]

I think it is also tax-free or pre-tax. I have parking deducted from my paycheck; I don't pay taxes on that money.

[sweetcell]

yeah, by doing it through your employer - if they participate in this program - you can pay for your metro pass and parking at a metro parking lot with pre-tax dollars.  definitely saves you $$.

[vansmack]

Originally posted by wanderlust j. marshmallow:
   Does this mean that the parking benefit is free to an employee, up to that limit? Or??
 

No.  It means that your employer can elect to offer a pre-tax benefit to you for parking expenses, up to $2XX.
 
 So basically, if you make $500 a month, and spend $200 in parking costs associated with your commute to work, the Federal Government will only take taxes out of the $300 you did not use to pay for parking.  At an average tax rate of 28%, you could save about $56 a month.  
 
 If you need help convincing your employer to do this for you - I can also explain how your employer can save money by doing this as well.  Convincing my employer to do this here in SF made me a hero until they remembered I am an adminstrator and they started hating me again.

[HoyaSaxa03]

or you could just buy them on craigslist and save even more $$ ... don't pay any more than 60 cents to the dollar ... fed employees get metrochecks for free and they really depress the value of them on an "open" market