If you take public transportation to work or pay for parking at the office, you can save up to 25% to 40% on the cost of your commute, depending on your tax bracket. The Commuter Benefits Program lets you contribute before-tax dollars to transportation or parking accounts or both, up to the IRS maximums.
- If you take public transportation—including the train, bus, subway, vanpool or ferry—you can contribute up to $280 per month in 2022 for eligible expenses.
- If you drive and park your car, you can contribute up to $280 per month in 2022 for eligible parking expenses.
- You can enroll in, change or stop your contributions at any time during the year.