tax deduction on commuting to work
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Thread created 01-25-2013 by teetee1
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I'm curious what employer wouldn't already know the answer, if they offer the benefit? That is a bit scary.
In any case, do I understand corrrectly that you will net the same amount of cash on...
tax deduction on commuting to work
Expired
Thread created 01-25-2013 by teetee1
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14 Replies
2,326 Views
I don't think so....
" allows employers"
I don't believe this is a deduction of any sort - your employer has to offer a program where they either pay for transportation costs or allow you to...
tax deduction on commuting to work
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Thread created 01-25-2013 by teetee1
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14 Replies
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If I can get tax refund for my commute ($245 monthly off of my $345 monthly pass) I am happy :)
tax deduction on commuting to work
Expired
Thread created 01-25-2013 by teetee1
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14 Replies
2,326 Views
Employers can deduct transportation (commuting) benefits they offer employees but they have to participate in a Section 125 Cafeteria Plan and offer the benefit(s) to all employees. There are...
tax deduction on commuting to work
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Thread created 01-25-2013 by teetee1
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Marginal rate.
tax deduction on commuting to work
Expired
Thread created 01-25-2013 by teetee1
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14 Replies
2,326 Views
Actually the savings would be the deduction times his/her marginal tax rate.
tax deduction on commuting to work
Expired
Thread created 01-25-2013 by teetee1
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14 Replies
2,326 Views
This doesn't really answer your question but the fiscal cliff "deal" that was just reached increased the monthly commuter tax benefit amount from $120 to $245.
This doesn't effect you but I...
tax deduction on commuting to work
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Thread created 01-25-2013 by teetee1
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14 Replies
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Is there such a thing? I am a total noob when it comes to tax deduction
I am thinking of accepting this new job which requires me to do daily commute by taking the train and the subway across the...
tax deduction on commuting to work
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Thread created 01-25-2013 by teetee1
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14 Replies
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OK after some hair pulling and pencil butt biting along with cursory research I think this is what I understand:
1. since I'm taking public transportation (commuter train and subway) to work, the...
tax deduction on commuting to work
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Thread created 01-25-2013 by teetee1
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transit benefits should be available pre-tax. your employer should offer this benefit - as it saves them some scratch as well.
just ask HR if they offer pre-tax transit benefit.
tax deduction on commuting to work
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Thread created 01-25-2013 by teetee1
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14 Replies
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You cannot get a tax deduction for your work commute costs, however, your employer can offer a program to use pre-tax money to be used toward commute (typically only public transportation) costs.
...
tax deduction on commuting to work
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Thread created 01-25-2013 by teetee1
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14 Replies
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It's not a tax credit, it's a deduction.
tax deduction on commuting to work
Expired
Thread created 01-25-2013 by teetee1
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14 Replies
2,326 Views
You're not grasping these concepts. Pay the $80 or so and speak to a CPA.
tax deduction on commuting to work
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Thread created 01-25-2013 by teetee1
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14 Replies
2,326 Views
if the employer is paying this for you, then you will not get any tax deduction. You can only deduct things you actually pay for. Even if you covered all of your commuting expenses, it would still...
tax deduction on commuting to work
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Thread created 01-25-2013 by teetee1
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14 Replies
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lots of caveats and trust me, I've looked into it - but the short answer is no, commuting expenses aren't deductible.
"deduction" means that it's basically not taxed - e.g. it's not considered...
