Tax Guy: Yes, commuters can still save money under the new tax law

Our beloved elected representatives in Washington established some nice tax breaks for transportation-related employee fringe benefits. They are intended to encourage you to give up your evil, gas-guzzling, pollution-spewing vehicle when commuting to work. If your employer still offers these tax-favored fringes, you should probably take advantage by signing up. But after an unfavorable change included in the Tax Cuts and Jobs Act (TCJA), your company may have pulled the plug on these goodies.

Your company may still provide moving allowances to cover job-related relocation expenses. But the TCJA eliminates tax-free treatment for these allowances.

Here are the details on how the new tax law treats these fringe benefits.

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