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Tax Break for Public Transit Commuters
Posted: Mar 1, 2013 5:33 PM by Jessica Holley - jholley@kristv.com
Updated: Mar 1, 2013 6:43 PM
CORPUS CHRISTI - As gas prices continue to rise daily people are looking for ways to cut their spending, one way is riding the bus. What many commuters don't know is that a new law makes them eligible for a tax break for using public transportation. Commuters are now eligible to get the same benefits as someone who drives to work and has to pay to park. If employers offer this plan employees are able to be reimbursed up $240 a month.
"Employers have a chance with this public transportation benefit to provide a non taxed benefit to their employees," Jane Haas,RTA Director of Marketing.
For those looking to making the switch RTA says they can help you plan your route.
Many bus riders like Jacob Garcia who use the buses to get to work, are unaware of this tax break.
"I was very surprised when you said it, and it sounds like a great thing because with the gas prices and everything. With the gas prices it's not only economical for the individual using it of course you get to save gas and the environment," says Garcia.
Taking the bus often makes for a longer commute, but Garcia says the money saved is worth the time added. And if your employer helps out the extra commute time doesn't seem so bad, especially with the price of gas lately.
"They can provide this extra benefit that cost nothing to them to their employees. It's a win win," says Haas.
Experts expect this tax could help 2.7 million American families.
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