The bale out had an extra 138 billion and that included a tax benefit for Bicycle and Committing Cafeteria plan the employer and the employee needs to fill out forms. I wish to take a deduction for the purchase and maintence of my Commuting bicycles.
Good answers thank you. Joe Poka you forgot this Bicycle commuter legislation was over 4 years old.
McG
Favorite Answer
What's Covered?
The intent of the legislation is to allow employees to use up to $20 a month in pre-tax dollars deducted from their paychecks to cover expenses related to an employee's bike commuting such as bike parking facilities, shower facilities, and maintenance, including tubes, tires, and other gear.
I am a bicycle commuter: How and where do I apply?
Accor Services, a leading provider of transportation benefits commuter solutions in the United States, has developed a new program, the commuter check solution for bicycle commuters. Commuter Check for Bicycling vouchers are the most convenient solution available to take advantage of the $20 per month Bicycle Benefit, authorized by the IRS to begin January 1, 2009. Commuter Check for Bicycling vouchers are available through Accor Services’ Commuter Check Office online ordering platform. Employers purchase them just like they do standard Commuter Check vouchers. They offer the same security and terms of use as standard Commuter Checks. Employees can take the vouchers they receive to any dedicated bicycle shop or bicycle parking or storage location to redeem their value. Interested employers and employees can visit the Accor Services website, to get more information and sign up for the program.
PhatBeatz
Hi, look under the San Fransisco Bicycling Coalition. They have all the information that you need about the tax benefit, when it goes into effect, etc. Hope this helps you! phat beatz
p.s. It may be the San Fransisco Bicycle Coalition instead of Bicycling..oops!
joe polka
How will this add on from the bail out help me it won;t because they are losing tax revenues from gas taxes because the decrease in driving, which will come back and bite me and millions like me.So to all you bicyclist if I don;t get a tax credit you shouldn;t and if you do, your as bad as the people that screwed up the economy by giving out loans to people who are not capable in paying them back,the word liberalism describes it best.
Michael M
The IRS puts out a comprehensive book called Publication 17. It will go line by line on your return and if there are changes in this area, they will be documented. You can get at the IRS, a local library, or order the form on line at the irs web site.
hope this was helpful.
mc