Bike Commuter Tax Credit
12-19-08, 12:04 PM
#1
Newbie
Thread Starter
Join Date: Dec 2008
Posts: 1
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
Likes: 0
Liked 0 Times
in
0 Posts
Bike Commuter Tax Credit
Hello,
This fall, as part of the federal bailout package, an unrelated piece of legislation was adopted by Congress. Starting January 1, 2009, employers can provide a transportation fringe benefit of $20 per month to employees that bike to work.
The legislation provides a tax incentive to tax-paying employers, but non-tax-paying employers like universities and cities may consider providing the credit to enhance employee morale, reduce insurance claims, and reduce transportation costs.
Does anyone know of cities that are providing a bike commuter credit as a result of this legislation?
Thanks!
This fall, as part of the federal bailout package, an unrelated piece of legislation was adopted by Congress. Starting January 1, 2009, employers can provide a transportation fringe benefit of $20 per month to employees that bike to work.
The legislation provides a tax incentive to tax-paying employers, but non-tax-paying employers like universities and cities may consider providing the credit to enhance employee morale, reduce insurance claims, and reduce transportation costs.
Does anyone know of cities that are providing a bike commuter credit as a result of this legislation?
Thanks!
