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:
“the parking lot of the dead.”
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