5 Ways To Negotiate Commuter Benefits Into Your Pay [Forbes]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Forbes
One commuter benefit option is a Flexible Spending Account, where the employee contributes part of their salary pre-tax (up to ). The FSA money needs to be spent specifically on transportation expenses, only certain expenses qualify (e.g., mass transit fares, parking, ride-sharing), and the benefit is in the tax savings to the employee, not additional salary. Another form of commuter benefit is when an employer covers or subsidizes commuting expenses by offering mass transit fare cards, parking passes, gas or toll reimbursement, etc. A recent overview by HR and payroll provider, , shows that 13% of small businesses offer some form of commuter benefit. Some cities (e.g., San Francisco, New York City, Washington DC) mandate that companies of a certain size offer commuter benefits. New Jersey mandates commuter benefits state-wide for companies with more than 20 employees. Ways To Negotiate Commuter Benefits Since commuter benefits aren't mandated everywhere, you'll have to ask for th
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