Zinner & Co. LLP Partner Susan Krantz, CPA, CGMA, was honored with a prestigious Rainmaker award as the Nonprofit Certified Public Accountant (CPA) member of the year.
Presented during the Rainmaker Companies’ annual SuperConference, held in Indianapolis from May 31 through June 2, the award is given annually to a member best described as someone who is a constant source of value to other members. Other criteria include an individual who engages in group activities and contributes to the success of the alliance through leadership, collaboration and the sharing of resources and best practices.
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One such case was a set of fringe benefits known as the “qualified transportation fringe” benefits that, in fact, received a double-barreled tax benefit for years, by virtue of Internal Revenue Code Section (IRC) 132(f)(5)(C). Under that section, employers were allowed to take a deduction for, among other things, qualified parking fringe benefits that they provided to their employees. What, exactly, was a qualified parking fringe benefit? Under IRC 132(f)(5)(C), “qualified parking” meant parking provided to an employee on or near the business premises of the employer, or on or near a location from which the employee commutes to work by transportation described in Code Sec. 132(f)(5)(A) (relating to “transit passes”), in a commuter highway vehicle, or by carpool. 
Chris Valponi, CPA
