VIDEO: Captain Contributor Explains Transit Accounts

The cost of traveling to and from work shouldn’t make you slam on the brakes. Find out how a Transit / Commuter account can ease the cost of commuting in this delightfully funny Transit video!

"The cost of traveling to and from work shouldn’t make you slam on the brakes. Find out how a Transit / Commuter account can ease the cost of commuting in this delightfully funny Transit video!"

Check out this Transit video, and find out the answer to some of life’s most troubling questions:

  • Is it safe to lecture people on the side of the highway?
  • Why does a villain have mommy issues?
  •  Is this the world’s worst hostage negotiator?

Transit Account Information

With a Transit/Commuter benefits plan, you can put aside money before taxes are taken from your paycheck to cover commuting expenses. There are three types of commuter benefit accounts:

  • Mass Transit – includes bus, subway, and train fare
  • Parking – for parking expenses near your place of work
  • Van pool – for commuter vehicles that carry 6 or more passengers
A Transit account can cover public transportation fare, parking, or vanpool!

Transit Debit Card

If you have a benefits debit card, you can use it to pay for your transit/commuter expenses. The card can be used at bus and subway terminals, or parking locations (where accepted). In some locations, like in many major cities, your card may have restrictions so that it can only be used where fare is sold.

If you don’t have a benefits card, you’ll have to pay up front, then submit a claim for reimbursement.

Transit / Commuter Limits

Transit/Commuter benefit limits are calculated on a monthly basis (as opposed to yearly). Check the IRS website on Section 132 accounts for more information.

You can change your contributions at any time during the plan year.

2020 Transit / Commuter Contribution Limits

Type

Monthly Limit

Parking

$270

Mass Transit Pass / Fare

$270

Commuter Highway Vehicle (Vanpool)

$270