Parking Conversion Tax Savings Example

Jack earns $30,000 annually and has parking expenses that are $1,200 per year. See below the impact that participating in a Parking Conversion benefit will make on Jack's take home pay!

Without Parking Conversion:

With Parking Conversion

Jack has increased his take home pay by $300 per year ($25 per month) by participating in his employer's Section 132 Parking Conversion Plan.