Article Date:
May 2013

Word Count:



Tax Deduction for Parking at the Office



I own my business and have one employee. We operate in downtown Philadelphia and we pay a hefty price for parking.


Can I deduct the cost of my parking? How about the cost of my employee’s parking?




Let’s start with the easy part, your employee. As a tax-free fringe benefit in 2013, you can pay up to $245 a month for your employee’s parking.1


What’s even cooler is that the law allows you to bargain with the employee over this fringe benefit.


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