Long-distance commuters in central Iowa stand to save hundreds of dollars in taxes if they take advantage of a benefit in the recently signed Taxpayer Relief Act of 2012.
The central Iowans who stand to benefit the most include participants in RideShare, the vanpooling program offered by the Des Moines Area Regional Transit Authority (DART). Vanpool users can use pre-tax dollars to pay as much as $240 of their monthly fares if their employers offer the tax benefit.
“The farther you travel, the bigger the tax benefit,” said Jennifer Long, RideShare Program Coordinator. “You start to see savings if you’re traveling 30 miles a day, and it goes up from there. Some people will save as much as $1,000 in annual income taxes.”
Transportation is the second largest expense in most American households, second only to housing and ahead of health care, education and food, according the U.S. Bureau of Labor Statistics. The transit tax benefit helps people in rural communities to afford transportation to jobs they would otherwise not be able to reach.
For more information on the vanpool tax benefits, please call the DART RideShare program at 515-288-7433 (RIDE).