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Tax Free Transit Benefits

TRANSITWORKS

Pre-Tax Transit Passes

With SmartCommter Everyone Is a Winner

 

 

With little to no cost and just minimum paperwork, your company, no matter how large or small, can join dozens of other businesses in Greater Cincinnati who participate in the SmartCommuter Employer Discount Program. When your company enrolls in SmartCommuter, everyone is a winner.

It Pays to Ride TANK

As a participating business; you will offer your workers a valuable employee benefit - a ride to work. With new federal tax incentives, your company can subsidize employee transportation costs or offer workers pre-tax benefits with payroll deductions.
Additionally, your company is serving the community, helping to reduce the number of vehicles on our congested highways.

Here's how SmartCommuter works for you:Transit Works

  • Improves employee recruitment and retention efforts;
  • Opens new job markets with greater access to the entire Greater Cincinnati area;
  • Offers an additional employee benefit with substantial savings;
  • Reduces parking demand at company location;
  • Benefits corporations and employees with tax-free incentives;
  • Provides greater opportunity for access to a transportation alternative;
  • Reduces the number of vehicles on our highways; and
  • Reduces pollution with fewer vehicles on the road.

 

Employer/Employee Transit Tax Benefits

Transitworks

With federal tax benefits, it really does pay to ride transit! Employers that offer SmartCommuter can take advantage of federal tax benefits as mandated by the Transportation Equity Act for the 21st Century.The Benefits:

  • The transit commuter benefit allows employers to give their employees up to $110 per month to cover transit-commuting costs as a tax-free benefit. Alternatively, employers can allow employees to pay for the commuter benefit with payroll deductions;

OR

  • An employer can pay for the cost of the transit pass (a TANK monthly pass is $45) for their employees. The employer's cost of providing transit benefits can be deducted as a normal business expense;

OR

  • Employers can also share the cost of commuting with their employees by paying for part of the transit pass and allowing employees to pay for the remainder, using pre-tax dollars.

 

 

For more information about the SmartCommuter program, please contact Lesley Holgate at lholgate@tankbus.org or 859-814-2137.

Your Employees Will Benefit

As soon as your company joins SmartCommuter, your employees can quickly take advantage of a number of valuable benefits.

Your employees will see that it pays to ride TANK with:

  • Relaxed, stress-free commute in air-conditioned comfort;
  • Convenient ticket and pass purchases on our website or in our downtown location;
  • Tax benefits; and
  • Access to TANK and Metro's Guaranteed Ride Home Program, which offers passengers up to four trips per year for unexpected emergencies.

The Program Is Easy

Knowing the challenges of day-to-day business activities, TANK has made enrolling in SmartCommter as easy as possible.

Simply contact Lesley Holgate, in our Marketing Department at 859-814-2137 or lholgate@tankbus.org and tell her you are interested in joining the SmartCommuter Program.

*The SmartCommuter Travel Savings Plan is governed by section 132(f) of the Internal Revenue Code, as amended on June 9, 1998, by Title IX, Section 9010 of the Transportation Equity Act for the 21st Century, Public Law 105-178. An official version of the tax law may be found at 26 USC Section 132(f).

**Exact savings will vary based on FICA, city, state and federal taxes

 

No matter who pays, both will save money by participating!