$240/yr Bike to Work provision

Discussion in 'Road Bikes' started by neicull, Dec 11, 2009.

  1. neicull

    neicull Guest

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    Basically, the IRS wants to give your employer a tax credit to give you $20/mo to commute to work on a bicycle. That’s sweet! More info here...plus some links in that article too.
     
  2. TxCyclist

    TxCyclist Administrator Staff Member Admin Staff

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    For 2009 or 2010. Do you have the actual IRS link?
     

  3. neicull

    neicull Guest

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  4. CTD50

    CTD50 DX's Biggest Member

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    I haven't checked, but I can about bet that my employer would say I'm getting enough benefit being allowed to bring my bike in the building.

    I may check, one of these days; after all, I am the only full-time bike commuter in the building.
     
  5. HandsomeRyan

    HandsomeRyan ♥'s Bicycles

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    I wrote up this letter to a former employer requesting benefits. They said no but yours might not...

    Feel free to edit this as needed to better suit your employer.
    ____________________________________________________

    Human Resources Department,

    As I'm sure you are aware, Congress recently passed H.R.
    1424 "The Bail-Out Bill" on Capitol Hill. Although this legislation
    deals primarily with the housing market, there were several other
    unrelated provisions added to the bill. Among these was a tax incentive
    for employers who promote the use of bicycles for commuting. The
    specifics of this tax break are laid out in Sec. 211, "Transportation
    fringe benefit to bicycle commuters" under the Transportation and
    Domestic Fuel Security Provision section but the change is pretty basic.
    The bill offers a $20 a month tax relief per bicycle commuting employee
    to cover the cost of any employer reimbursement for reasonable expenses
    incurred by the employee "for the purchase of a bicycle and bicycle
    improvements, repair, and storage, if such bicycle is regularly used for
    travel between the employee's residence and place of employment."

    I am interested in finding a way that [Company Name] could implement a
    program that would allow employees who cyclo-commute to expense less
    than $20 a month in bike related expenses.

    The benefits of an expense reimbursement program for cyclo-commuters
    include:
    • Lower fuel costs on company owned vehicles
    • Less required maintenance on company owned vehicles
    • Ability of [Company Name] to claim a full $20 per month per eligible employee
    when actual expenses are likely to be far less
    • Improved employee health which in turn increases employee productivity
    • Creates a progressive and environmentally conscious image for the
    company

    Please let me know if you have any questions or would like additional
    information about this recent tax code change.

    Thank you,
    HandsomeRyan
    District Distribution Manager
    Knoxville, TN