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Qualified Transportation Benefit

employers qualified transportation benefit qtb from Lifetime Benefit Solutions

A Qualified Transportation Benefit plan allows your employees to pay for commuting expenses with pretax dollars. This solution helps make the daily commute to work even easier for employees. When you partner with us, we focus on making parking and transit options easier for your employees while handling all the administration on the back end.

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Advantages of Qualified Transportation Benefits (QTB)

Employees save money by reducing their taxable income. The QTB amount elected will be subtracted from gross income. Incurred eligible expenses are reimbursed from the funds set aside from the employee’s paycheck.

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Parking Component: A Parking account can reimburse employees for daily work-related expenses, such as parking lot fees and parking at a location for access to mass-transit or van-pooling sites.

Transit Component: A Transit account can reimburse employees for expenses related to mass-transit fees, such as subway and train tokens and passes, bus and ferry fares and van-pooling expenses.

Bridge tolls, road tolls, gasoline and expenses incurred by the employee’s spouse or dependents are not eligible expenses.

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