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Calculate Your Commuter Tax Savings
Enter the amount you spend on the following:
Public transportation (bus, train, ferry, subway, streetcar) $ / month
Vanpool $ / month
Parking $ / month
Total $ / month
Percentage of your gross salary that you pay in Federal, State and Local taxes:    %
FICA (includes Medicare)    %
Total taxes:    %
Estimated Tax Savings:
You save $ / month
You save $ / year

The amount you can save taxes on is currently set at:

  • for parking expenses: $230/month as of January 1, 2009
  • for transit and van pool expenses:
    • $120/month for January & February 2009
    • $230/month as of March 1, 2009

If your expenses are less, then you'll save taxes on whatever you spend.





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