Ride Report offers an option to opt-in to a pre-tax fund to use for expenses related to commuting. Ride Report Employees Commuter funds can be used for eligible parking and transit expenses like bus passes, parking garages, and carpool rideshares. See a complete list of eligible expenses.
- The contribution limit is $265 pre-tax per month per benefit. The employee can change their election each month.
- Tax advantages: In addition to payroll taxes being lowered by the amount contributed, employers in all states can also get federal tax savings since commuter benefits are considered fringe benefits. Employees’ taxable income is lowered by the amount they contribute.
- Rollover options: The runout period is 90 days. This allows recently dismissed employees to submit claims incurred on or before the termination date.