How much could you save?
Commuter benefits can add up to some serious tax savings. Commuter benefits apply to mass transit and qualified paid parking. Check out our calculator to see how much you could save.
How much can you spend?
Reduce your commuting expenses by taking advantage of commuter benefits. The IRS allows for certain work-related transit and parking expenses to be deducted from your paycheck on a pre-tax basis. Because typically you do not pay federal income taxes on these eligible expenses, you can save on commuter expenses.
For tax years beginning after January 1, 2024 the IRS allows up to $315 a month to be deducted pre-tax for commuter costs, and up to $315 a month pre-tax for eligible parking costs. Any amount beyond that becomes a post-tax deduction.
Transit $315/month
Parking $315/month
Disclaimer for Commuter Benefits
Health savings accounts (HSAs) are offered or administered by Optum Bank®, Member FDIC, or ConnectYourCare, LLC, each a subsidiary of Optum Financial. HSAs are subject to eligibility requirements and restrictions on deposits and withdrawals to avoid IRS penalties. State taxes may apply. Fees may reduce earnings on account. Flexible spending accounts/arrangements (FSAs), health reimbursement arrangements (HRAs), Commuter and Parking Benefits, Adoption Reimbursement Plans, Tuitions Reimbursement Plans, Surrogacy Reimbursement Plans, Lifestyle Plans, COBRA Benefits, and all other account types are administered on behalf of your plan sponsor by Optum Financial, Inc. or ConnectYourCare, LLC (collectively, “Optum Financial”) and are subject to eligibility and restrictions. Please contact a legal or tax professional for advice on eligibility, tax treatment, and restrictions. This communication is not intended as tax or legal advice. Please contact your plan administrator with questions about enrollment or plan restrictions. Federal and state laws and regulations and the design of your plan are subject to change.