$205 a Month in Parking Money

Your employer can give you $105 a month to pay for going to work in a bus, van or metro, or give you $205 a month for parking. You get the money tax free, and the employer gets to take a tax deduction. It’s called the Qualified Transportation Fringe Benefit or Transit Benefit Program. Get a copy of IRS Publication 15-B, Employer’s Tax Guide To Fringe Benefits and show your boss the section entitled ?Qualified Transportation Fringe. The publication is available from your local IRS office or from 800-TAX-FORM or from their website at www.irs.gov)

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