With gas prices skyrocketing, there's never been a better time to share a ride to work. Carpool with one other person and you'll cut your costs in half. Carpool with two and you'll cut your costs by two-thirds. You'll not only save on gas, but tolls and parking, too. And you'll put fewer miles on your car, reducing maintenance costs.
By our calculations, many New Yorkers could save up to thousands of dollars a year or more by sharing a ride! To see just how much you could save, please use our handy Savings Calculator below.
The IRS allows employees to set aside up to $105 of their salary each month, before taxes, for transit or vanpool expenses. If your employer offers this benefit, you can reduce your taxable income by this amount and save a substantial sum.
In addition, some employers will subsidize their employees' commuting costs, paying up to $105 per month of their expenses. Ask your employer about the availability of Transit Tax benefits, or call CommuterLink for more information.