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-   -   IRS says Bike Shares don't count (https://www.bikeforums.net/advocacy-safety/919972-irs-says-bike-shares-dont-count.html)

kjmillig 10-29-13 07:31 AM

IRS says Bike Shares don't count
 
The IRS says NO to allowing Bike Share use for qualified transportation benefits by employers.
http://www.forbes.com/sites/robertwo...es-bike-share/

spivonious 10-29-13 08:03 AM

Wow, I didn't even know this tax break existed. Time to ask HR about it. $20/month tax-free for maintenance reimbursements is awesome.

Can a mod cross-post this thread to the Commuting forum?

dougmc 10-29-13 10:00 AM


Originally Posted by spivonious (Post 16200898)
Wow, I didn't even know this tax break existed. Time to ask HR about it. $20/month tax-free for maintenance reimbursements is awesome.

Just to be clear, it's not "free money" -- it basically means that your employer can give you $20/month to reimburse you for your expenditures, and neither you nor your employer will have to pay taxes on it.

But it's still $20/month out of their pocket. It's not like some paperwork is done and $20/month appears in your pocket courtesy of Uncle Sam, though the tax benefit is certainly real. And if you can sell your employer on it, $20/month may appear in your pocket courtesy of your employer ...

I'm not saying you didn't realize this -- you seemed to use the right words to suggest that you did realize it -- but a lot of people get confused by this.

spivonious 10-29-13 10:29 AM

^ Yes, good to point out. But it's still an extra $60/year in my pocket if I can max out the $20/month.

rydabent 10-29-13 11:06 AM

Tax and spend B'crats dont want anything getting in the way of their money grubbing.

Chicago Al 10-29-13 11:24 AM


Originally Posted by rydabent (Post 16201613)
Tax and spend B'crats dont want anything getting in the way of their money grubbing.

:rolleyes:


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