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What is the maximum my employees can deduct?

April 26, 2017deduct employees maximum

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What is the maximum my employees can deduct?

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A. The new Federal limit allows your employees to deduct up to $230 a month of pretax salary to pay for transit and vanpool commuting expenses and $230 a month for commuter parking.

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Federal limit currently allows your employees to use up to $230 a month/$2,760 a year of their pre-tax salary to pay for their commuting expenses. If employees need a parking benefit, they are allowed to use $230 a month/$2,760 a year in addition to their commuting expense. Visit the Customer Servicesection of our website to learn more.