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IRS says Bike Shares don't count

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IRS says Bike Shares don't count

Old 10-29-13, 07:31 AM
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kjmillig
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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/
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Old 10-29-13, 08:03 AM
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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?
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Old 10-29-13, 10:00 AM
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Originally Posted by spivonious View Post
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.
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Old 10-29-13, 10:29 AM
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^ 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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Old 10-29-13, 11:06 AM
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Tax and spend B'crats dont want anything getting in the way of their money grubbing.
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Old 10-29-13, 11:24 AM
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Originally Posted by rydabent View Post
Tax and spend B'crats dont want anything getting in the way of their money grubbing.
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