Is parking at work ever tax-free?
(Revised November 2012)

If you drive downtown to work, you may be able to get the cost of your parking reimbursed by your employer - tax-free. For 2012 and 2013, employers can offer most employees the option of up to $250 a month in tax-free parking benefits or taking the money as taxable salary. If the employee chooses the tax-free parking, he/she will also save on Social Security and Medicare taxes and, similarly, the employer will also save since the benefit is exempt from payroll taxes.

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