Using transit gives you the opportunity to do something good for Long Island while doing something good for your finances. In addition to reducing harmful emissions and making our communities better places to live and work, using pre-tax dollars to pay for your commute can save you up to 40% annually in commuting costs.
Sample employee savings with pre-tax transit benefits
|Monthly commuter expenses||$270|
|Monthly costs without pre-tax deduction||$270|
|Monthly costs with pre-tax deduction||$162|
|Employees could net annual savings||$1,296*|
|* Annual savings based on 2020 Federal, NYS, NYC and FICA tax rates for a single taxpayer with standard deductions. Actual savings may vary. Consult your tax advisor.|
Enrolling is easy. All you have to do is sign-up at your company in a pre-tax transit benefit program offered by a pre-tax transit benefit administrator. If your company doesn't currently offer this benefit, check out the Employer section of this Web site and encourage your employer to do the same.
If you'd like someone to contact your company, call 516-242-8121 with the company name and contact(s) and we'll share the benefits of this great program with them.
Good for you. Good for the environment.
Since the TRANSIT SOLUTIONS program began, the following employers on Long Island are just a few of the companies that have implemented the pre-tax commuter benefit program.