Whether you take the subway, bus, train,
or ferry, you can save with the pretax transit benefit program for
employees.
Save
using your pre-tax dollars to pay for your
commute.
Receive benefits conveniently through a
pre-paid credit card.
Use
to purchase Transit Tickets for most New York/New
Jersey
metro area transit.
HOW
DOES IT WORK?
Employees sign up for the Transit
program by telling us how much to deduct
toward the cost of commuting each month
– This
amount is exempt from Federal Income,
New York
State
and New York City Income, Social Security
and Medicare Taxes.
Swipe and Save Pre-paid cards are accepted by most providers
of mass transit in the
New York
metro area, including LIRR,
MetroNorth
,
NJ
Transit, PATH, MTA subways and buses,
suburban buses, van pools and ferry
services.
WHAT
ARE THE ADVANTAGES?
By participation in the pre-tax
Transit program, employees in effect
give themselves a raise in pay.Depending on the tax bracket and the
amount set aside, the tax-exemption will be
at least 30% of the amount set aside.
Commuting Costs cannot otherwise be
“written off” as income tax deductions.
HOW
DO WE START?
Please complete the
Enrollment
Form and return it to the Accounting
Department.
The Swipe'n'Save
Transportation Program is
not affiliated with L. J. Gonzer Associates.
Information provided herein is based on
information provided by QTB Services. L.
J. Gonzer Associates makes no warranty as to the
accuracy of this information nor applicability
to an individuals situation. Please see
the QTB
Services if you have questions or need
additional information
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