Please decipher this
I want to fully understand this statement and so I'm asking you fine folks. I want to see if the company will pay for commuting costs above $70:
"Commuter Checks: $70 per month to help pay for your commute to work. Employees may supplement monthly checks with pre-tax reimbursement for additional commuter checks."
Any insight will be helpful.
Thx
Looks like they company is giving you $70 a month to help pay for local parking or in lieu of paying for a monthly bus pass (which basically costs the same). I would get clarification on what exactly an "additional commuter check" is. Talk to HR.
I tend to agree with Andrea that the company would reimburse you to a maximum of 70 dollars a month for commuting expenses,, but it also seems that you can allocate a certain amount of your paycheck a month to augment the reimbursement. If true, then,what that means is if you allocate, say 100 a month to your account, that 100 is deducted from your gross income, which lowers your annual taxable income by 1200 a year, which in the end run means a lower tax burden come April 15th. Still, to be on the safe side, I recommend contact HR and asking them for clarification.
Looks like you would only get $70 per month to pay for commuting costs.
Ask someone in the HR department for specifics and get it on paper. Usually when an employer offers any type of reimbursement there are very specifics rules/regulations. I guarantee it will not be as simple as an extra $70 per month. Do not take anyone's word for this. Get the exact policy, on paper.