When it comes to spending less money for gas, we've all resorted to various options and alternatives that can help us save a few bucks despite the economic crunch. Some of us have decided to opt for the cheaper sort of fuel, while others have changed their driving habits to maximize the amount of gas they have in their tanks. On the other hand, others have taken to commuting to work or school, even if that means that they have to fight for space in the subway during rush hour.
Sure, commuting is a great hassle for a lot of us, and it presents a lot of inconveniences and hidden dangers in the form of long lines and crafty pickpockets. But did you know that your employer could make up for all the trouble you go through while you commute to work? Through the Internal Revenue Service's (IRS) Tax-Free Qualified Transportation Fringe Benefits, workers could receive as much as $115 each month in non-taxable benefits for commuting to work or joining a vanpool.
The Tax-Free Qualified Transportation Fringe Benefits doesn't just give commuters a break – even those with cars can save hundreds of dollars each month in parking fees! We all know that paying for good and safe parking space for your car can throw a monkeywrench into your budget, and that office workers usually don't have a choice but to cough up the exorbitant fees for a measly spot in a parking lot. But through the Tax-Free Qualified Transportation Fringe Benefits, employees can receive up to $220 per month from their bosses to help them deal with sky-high parking fees.