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/ |
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? |
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.
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. |
^ Yes, good to point out. But it's still an extra $60/year in my pocket if I can max out the $20/month.
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Tax and spend B'crats dont want anything getting in the way of their money grubbing.
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Originally Posted by rydabent
(Post 16201613)
Tax and spend B'crats dont want anything getting in the way of their money grubbing.
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