The Issue: The business deduction for qualified transportation fringe benefits (QTFs) such as qualified parking, transit passes, commuter highway vehicle transportation and bicycle commuting benefits was eliminated in The Tax Cuts and Jobs Act (TCJA) of 2017. In short, if employers provide these benefits, they must pay tax on it or pass the tax along to the employee. This QTF change affects both employers who pay a third party for employee parking spots and employers who own or lease their own parking. It is also a new challenge to navigate for building owners and managers.
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