IRS Tax Benies for Cyclist Commuter: What to bring to HR?
02-19-09, 11:19 AM
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IRS Tax Benies for Cyclist Commuter: What to bring to HR?
I heard that the American League of Cyclist has past a commuting benefit...$20 a month toward bike maintenance? Some other nice stuff? Any one have further details?
I brought it up to HR and she said she would fill out any needed paperwork. I just need to bring it to her attention.
Anyone know what I need to do? Is there paperwork on line I can direct her to?
Also...there is public transit related benefits? Details and where to get the needed forms?
Thanks!!
Kenny
I brought it up to HR and she said she would fill out any needed paperwork. I just need to bring it to her attention.
Anyone know what I need to do? Is there paperwork on line I can direct her to?
Also...there is public transit related benefits? Details and where to get the needed forms?
Thanks!!
Kenny
02-19-09, 11:38 AM
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do a search on here. It was not a well thought out program and your company probably will not offer it.
02-19-09, 11:45 AM
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Uh, the "American League of Cyclist" can't pass a tax benefit. Congress did that.
This has been discussed pretty heavily here, search around. Bottom line is that most HR departments aren't doing it because it a pretty huge PITA for the 2 people who would benefit at most companies. They'd be better off just giving you the $240 than paying someone $1000 to figure it out and doing the paperwork.
This has been discussed pretty heavily here, search around. Bottom line is that most HR departments aren't doing it because it a pretty huge PITA for the 2 people who would benefit at most companies. They'd be better off just giving you the $240 than paying someone $1000 to figure it out and doing the paperwork.
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Work: the 8 hours that separates bike rides.
Work: the 8 hours that separates bike rides.
02-20-09, 10:18 AM
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I guess *I meant* to say The American League of Cyclists had info...I know that congress passes bills!
Is it even in effect? I went to the IRS site with a friend and from what we were reading, it just did not seem to be available yet. I will search the forums...thanks!
Is it even in effect? I went to the IRS site with a friend and from what we were reading, it just did not seem to be available yet. I will search the forums...thanks!
02-20-09, 10:27 AM
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Kenny:
It's not a direct benefit to commuters or cyclists. Basically what it says, is that if an employer incurs expenses facilitating bike commuting, such as putting in bike racks, showers, changing facilities, etc., or if they provide some sort of bike commuting subsidy to theie employers, then they can deduct $20 per month per cyclist from their tax obligations. Don't wait around too long for your $20 per month ;-)
It's not a direct benefit to commuters or cyclists. Basically what it says, is that if an employer incurs expenses facilitating bike commuting, such as putting in bike racks, showers, changing facilities, etc., or if they provide some sort of bike commuting subsidy to theie employers, then they can deduct $20 per month per cyclist from their tax obligations. Don't wait around too long for your $20 per month ;-)
02-21-09, 12:00 AM
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I thought it was money they received for the "employee"
I do not see any of those things happening for cyclists in the company...I am certainly the minority in that respect...
I do not see any of those things happening for cyclists in the company...I am certainly the minority in that respect...
