Do you pay for public transit and/or parking as part of your commute? If yes, you could save up to $520 per month on your taxes.
The IRS allows pre-tax contributions of up to $260 per month for public transit and up to $260 for parking.
Many employers offer this pre-tax program, so check with your human resources department about how to sign up. If they don’t offer the program, contact the MVTMA by emailing Gretchen Grosky at firstname.lastname@example.org to see how we can help your company participate.