Thursday, October 30, 2008

Article- US: Bailout Bill has Hidden Tax Break for Cyclists

Some of the hidden pork in the Bailout Bill have been written about for their silliness, ... However there is one particular one that TreeHuggers should love: Sec. 211. Transportation fringe benefit to bicycle commuters.

it allows for a "qualified bicycle commuting reimbursement" for "reasonable expenses incurred by the employee during such calendar year for the purchase of a bicycle and bicycle improvements, repair, and storage, if such bicycle is regularly used for travel between the employee’s residence and place of employment"- your bike expenses, up to 20 bucks a month, can be covered by your boss as a benefit tax free.

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