Parking Provided By Employer
Regular employees are allowed up to a certain limit in tax free parking or subsidized up to that amount. Any amount over the taxable amount should be included in gross income. According to the Internal Revenue Service (IRS), parking benefits are to be valued according to regular commercial price for parking at the same or nearby location. Parking must be on or near the employer's premises, at a mass transit facility such as a train station or car pooling center.
Read more about this topic: Employer Transportation Benefits In The United States
Famous quotes containing the words parking and/or employer:
“That’s interesting. Sort of a private preserve for teenagers, huh? I suppose as adults we’re lucky to find a parking space.”
—Kenneth Langtry. Herbert L. Strock. Prof. Frankenstein (Whit Bissell)
“If the laborer gets no more than the wages which his employer pays him, he is cheated, he cheats himself.”
—Henry David Thoreau (1817–1862)