Commuter tax benefits for transit have increased in 2013, making BART an even better value, according to BART.
The following information is from BART:
Thanks to the American Taxpayer Relief Act of 2012, there’s an increase in the amount you can save using pre-tax dollars for commuting. The tax code now allows up to $245 per month for qualified transit fares.
And there’s another up to $245 per month allowed for qualified transit parking, including parking at BART stations.
You can take advantage of the benefits through employer-sponsored programs. Talk to your employer about what’s available or get more details at www.bart.gov/pretax.
Employees who set aside income on a pre-tax basis do not pay federal income or payroll taxes on the income set aside. If you have a combined (local, state, federal) tax rate of 40% and spend $240 per month on BART fares, you could save nearly $100 each month or $1,200 a year.
If you pay for monthly BART parking at $63 per month, you could save an additional $25 per month or $300 per year.
Customers already rate BART as a good value for the money and these programs make it even better. In the 2012 customer satisfaction survey 70 percent rated BART a good value, up from 64 percent in 2010.