Major employers around the country are finding out that commuting habits impact not just their employees’ wallets, but also the company’s bottom line. Many employers are taking advantage of available tax credits and partnerships that create reduce their local workforce dependency on automobile usage.
- Implementing the IRS pre-tax Commuter Benefit for transit and bicycling. The IRS tax code allows companies to offer employees pre-tax benefits for public transportation and related parking. If you are not already offering these benefits to your employees, share the following with your benefits department: IRS Qualified Transportation Fringes – 26 CFR 1.132-9 explained in detail
- Add preferred parking spots for carpoolers. This brief from Best Workplaces for Commuters shares lots of ideas of how and why to promote carpooling, including through preferred parking.
- Offer employees a parking space cash-out. One way to encourage employees to carpool, bike, or take transit to work is to offer them cash instead of a parking space.