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:

• for parking expenses:
• beginning January 1, 2012: $240/month
• for transit and van pool expenses:
• beginning January 1, 2012: $125/month

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