The Tax Cuts and Job Acts (TCJA) signed into law on December 22, 2017 provides that beginning January 1, 2018, no deduction is allowed for the expense of a qualified transportation fringe benefit provided to an employee of the taxpayer such as employee parking or transit passes. It is possible to use a salary reduction arrangement (SRA) so the employee could have a choice between the actual receipt of compensation and the provision of a benefit. In other words, if an employee earned $3,500 monthly compensation and incurred $150 a month for parking the employee could either (1) receive the entire $3,650 or; (2) reduce the salary to $3,500 and take the employer-provided parking benefit on a pre-tax basis, much like a 401(k) deferral.
We are excited to share that Dossey & Jones now joins the international law firm Withersworldwide!
Our new relationship with Withers offers us the opportunity to better serve our clients and to bring a whole new range of US and international services into play for our clients. We look forward to continuing our work together and to introducing you to our Withers colleagues! Our current address will remain the same, and our phone numbers and email addresses will temporarily remain the same as we work on completing our integration over to Withers.
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