Pre-Tax Parking Programs
Providing employees with access to pre-tax commuter parking programs allow companies to offer a valuable employee benefit. SP+ helps deliver this advantage by partnering with many of the industry leaders in pre-tax commuter programs, including WageWorks, TransitChek, and Commuter Check. Federal Law allows employees to reduce their commuting costs by up to 40% by paying for monthly or daily parking with pre-tax dollars. Companies can also save as payroll taxes are not paid on pre-tax payroll deductions. According to the current IRS regulation, employees can deduct up to $255 per month for commuter parking.
Contact SP+ for information about Pre-Tax Commuter Programs.