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Commuting Transportation and Parking Boston College

Nicki is diabetic and has to visit her doctor every six months for preventive checkup. Then select the WageWorks Commuter Card payment option within the Lyft app when you request a ride. Regular readers of the blog know that at the beginning of 2016 employees were allowed to exclude up to $255/month in transit expenses from their taxable income which is up from $130/month in 2015. Since a monthly unlimited ride MetroCard costs $116.50 in NYC, many readers struggled finding a way to spend the extra funds.

Once you’ve added your commuter benefits card to your Uber account, just make sure you select it as your payment method of choice before you make your UberX Share request. On Tuesday, Uber announced a “first-of-a-kind” partnership with WageWorks, a major administrator of employee benefits, that will allow commuters in New York City to use pretax dollars to pay for UberPool. It’s a major step for the ride-hailing company in its quest to position its carpooling service as a form of public transportation. WageWorks users who already save 40 percent on public transit via pre-tax funds can now do the same with the ride-hailing service. To use their pre-tax money, Uber users will need to add a commuter benefits prepaid card to their payment options.

The eligible cards are WageWorks commuter prepaid MasterCards, Wageworks prepaid Visa commuter cards and TransitCheck QuickPay prepaid Visa cards. This means that for every $1 you spend pre-tax, you save paying 40 cents in taxes. If you are able to maximize your commuter benefits by spending all $255 every month, you’ve effectively saved yourself north of $1,200 each year.

  1. When using a WageWorks card product, Uber will only send a vehicle that seats six or more (not including the driver).
  2. It doesn’t matter what WageWorks product they use or that they even currently use a WageWorks product.
  3. After 90 days, you forfeit any pre-tax funds left in your account when you leave your employer, although you are refunded any remaining post-tax funds at the end of the ninety day period.
  4. I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith.

News, discussion, policy, and law relating to any tax – U.S. and International, Federal, State, or local. The IRS is experiencing significant and extended delays in processing – everything. As of now, there’s no audit function to ensure the ride counts as a “commute” and logistically I would think it’d be difficult or impossible to achieve.

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Employees have not in the past been able to use these benefits for private transit options. Of course it doesn’t make sense to spend $1 to save 40 cents, so there needs to be a real need to spend the money on commuter benefits in order to justify the expense. A monthly subway pass makes a lot of sense, as does the occasional train ride (or more if you live in one of the train commuter areas). That said, it’s still hard to spend the $255 each month (and don’t forget that you also have $255/month of qualified parking expenses as well). Previously, I showed how you could use the money to cover train rides in the NYC metro area. Today, let’s talk about using the pre-tax money to pay for Uber rides.

Uber riders can now use pre-tax commuter money

By participating, employees make the purchase of their transit passes more convenient AND save money when purchasing them from the MBTA or other transit providers. Founded in 2000, WageWorks administers voluntary employee benefit programs on behalf of employers across health and travel sectors. Uber and WageWorks said in blog posts announcing their partnership that riders can save up to 40 percent by using commuter benefits. The federal $255 monthly transit limit will apply to commuter rides as it does to all other transit. The accounts are linked to prepaid debit cards that only work for certain transit vendors.

Uber and WageWorks expand program that lets commuters pay for UberPool ride-shares with pretax dollars

•Then add my OMNY card into Apple wallet as either a transit card (if that’s applicable) or debit/credit card (and activate it as the default express transit payment). Tax savings will vary, but for most people the savings will be between 25% and 30% of the pass cost. Uber says commuters with WageWorks accounts could save up to 40 percent on their UberPool rides under the program. The benefit will be available first in New York City, and then will roll out to Philadelphia, Chicago, and San Francisco.

I was making changes to my Uber and Lyft account this weekend by setting my US Bank Cash Plus Credit Card as the default payment method since that credit card now offers5% cash back for public transportation . While I was doing that, I noticed that the Uber app had Commuter Benefits as a payment method. I have a Commuter Check Prepaid Debit MasterCard through my work that allows me to use pre-tax dollars to pay for public transportation to and from work. If you have a similar commuter benefit card, you can add that card to your Uber app by clicking the payment tab, selecting Commuter Benefits and entering your card information.

It’s a big step for a company that sees itself as more than a ride-hailing service and follows on the heels of the introduction of unlimited passes during the summer for rush hour rides in Manhattan. RideGuru™ is not affiliated with any of the ridehail companies listed on the site. That’s why we combine multiple strategies with an award-winning member experience to help you implement budget-neutral programs that drive the outcomes you want.

Because of rules set forth by the IRS, uberPOOL requests using commuter benefits will only be connected full-size vehicles. So, sorry, you won’t be getting a Smart Car or a two-seat sports car. The IRS also sets a maximum monthly contribution of $255, so wageworks uber after you spend that, you’ll have to use standard methods of payments. Check with your HR department to see if your company’s commuter benefits make the cut. But it does also help solve a genuine problem in major conurbations — gridlock and traffic jams.

Make sure your bike is parallel to the rack and that it does not prevent people from using the sidewalk. If there’s another bike parked at the rack, make sure not to accidentally lock the other bike with yours. Please read the sidebar on before posting since new reddit does not allow space for rules/links/guidance.

Monthly passes allow for unlimited travel on all MBTA services and have built-in discounts and benefits such as reduced auto insurance rates. BC offers preferred parking to commuters, bike racks and facilites for bicyclists, and easy access to the MBTA and other forms of mass transit. Next time you hail a ride with UberPOOL, you’ll be able to pay with your pre-tax contributions to your commuter benefits, which Uber claims can save you anywhere between 15 and 40%.

To utilize this benefit, commuters access UberPool using the Uber app. First they must register their WageWorks Transit benefit card with the app, and then they can pay for the pre-tax-deducted ride. Commuter benefits allow employers to support their employees when it comes to their daily commute. WageWorks approached Uber about the partnership idea, WageWorks President for Commuter Services Dan Neuburger told Mashable. The benefits company already partners in a less public way with other ride-sharing companies, Neuburger said, though he declined to name which ones.

If you already know how rideshare works with Uber and you’re familiar with the on-demand ride application, this should be quite similar. Of course one of the biggest advantages is that you will also share the costs. You have ninety days from your termination date to use your card to access the funds remaining in your account. After 90 days, you forfeit any pre-tax funds left in your account when you leave your employer, although you are refunded any remaining post-tax funds at the end of the ninety day period. Whether the cost of commuting with the WageWorks-Uber partnership is comparable to public transportation will vary by user. You will be able to order your transit pass online and enjoy the benefits of a pre-tax payroll deduction.

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