commuter tax break energy bill...?
02-08-08 | 06:32 PM
#1
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commuter tax break energy bill...?
so remember the energy bill that passed this summer that is supposed to provide bike commuters with tax breaks? I'm looking into that but am not sure how to take advantage of it. Anyone here use turbo tax and know where to find into on this? I'll keep looking...
02-08-08 | 06:40 PM
#2
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From: Chicago, IL
Did this actually happen? I thought it got shelved?
https://blog.oregonlive.com/mapesonpo..._survives.html
Duppie
https://blog.oregonlive.com/mapesonpo..._survives.html
Duppie
02-08-08 | 07:12 PM
#4
META
Joined: Aug 2005
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From: Madison, WI
Bikes: Gary Fisher Aquila (retired), Specialized Allez Sport (in parts), Cannondale R500, HP Velotechnic Street Machine, Dented Blue Fixed Gear (retired), Seven Tsunami SSFG, Specialized Stumpjumper Comp Hardtail (alloy version)
Yeah that provision got killed in committee and they re-instated the Hummer Loophole instead.
jerks....
jerks....
02-08-08 | 08:42 PM
#5
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From: Washington DC Area
It's clear from the other posts that the provision has been dropped and is not in any bill. However, assuming hypothetically that it had become law, it would not be something you could claim a deduction for on turbo tax. Rather, I believe, it was something that an employer would have to arrange and would actually be given to you (or other employees that claimed it) as an additional tax free fringe benefit. That is, it was dependent on an employer providing it for employees. In that regard it was similar to a provision that many employers, federal government included, offer in the Washington DC area: up to $110 month in metro fare cards to use mass transit. I'm not totally certain it worked this way however.
02-08-08 | 10:46 PM
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From: Reston, VA
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It's clear from the other posts that the provision has been dropped and is not in any bill. However, assuming hypothetically that it had become law, it would not be something you could claim a deduction for on turbo tax. Rather, I believe, it was something that an employer would have to arrange and would actually be given to you (or other employees that claimed it) as an additional tax free fringe benefit. That is, it was dependent on an employer providing it for employees. In that regard it was similar to a provision that many employers, federal government included, offer in the Washington DC area: up to $110 month in metro fare cards to use mass transit. I'm not totally certain it worked this way however.
