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Delaware Valley Regional
Planning Commission
Office of Commuter Services
190 N. Independence Mall West,
8th Floor
Philadelphia, PA 19106-1520
TransitChek@dvrpc.org
215.592.1800 Phone
215.592.9125 Fax
800.355.5000 Recorded Information

 

Commuters Save with TransitChek

When your employer offers TransitChek through pre-tax payroll deductions, you can set aside up to $115 a month in pre-tax dollars to pay for your commute on transit or vanpools. That means you won’t pay federal income taxes or FICA taxes on these dollars. The table below gives you an idea of how much you can save in taxes each year by taking advantage of the $115 per month maximum pre-tax payroll deduction. Use the savings calculator below to find out how much you’ll save based on your specific commuting costs and federal tax bracket.

If you are an employer, find out how much your organization can save with TransitChek by calling 215.592.1800.

Locate your tax bracket in the chart:

2008 Federal Tax Bracket

Married (from - to)

Single (from - to)

10%

Under $16,050

Under $8,025

15%

$16,050 - $65,100

$8,025 - $32,550

25% (most common)

$65,100 - $131,450

$32,550 - $78,850

28%

$131,450 - $200,300

$78,850 - $164,550

33%

$200,300 - $357,700

$164,550 - $357,700

35%

$357,700 +

$357,700 +


ANNUAL SAVINGS

Federal Income Tax Bracket

10%

15%

25%

28%

33%

35%

Federal Income Tax Saved

$138

$207

$345

$386

$455

$483

FICA Savings
(Social Security + Medicare)

Social Security*

$85

$85

$85

$0

$0

$0

Medicare

$19

$19

$19

$19

$19

$19

Total Annual Employee Savings

$242

$311

$449

$405

$474

$502

Percent Saved

17.5%

22.5%

32.5%

29.3%

34.3%

36.4%

The savings from different benefit levels can be calculated proportionally. In specific situations, further savings may result from other salary-linked costs such as unemployment, disability, retirement, workers compensation, or wage taxes. *The Social Security tax limit (6.2% up to $97,500 for 2008) also rises annually. Medicare is 1.45% with no limit. TransitChek-related tax savings for Social Security applies to employees earning up to $97,500 annually. Consult your tax advisor for specific advice.

 

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