The IRS says no to bike share programs.
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The IRS says no to bike share programs.
The IRS has disallowed bike share use to be included in employer transportation benefits.
https://www.forbes.com/sites/robertwo...es-bike-share/
https://www.forbes.com/sites/robertwo...es-bike-share/
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How did I not know of this benefit?
$20/month tax-free for purchase, repair, maintenance, and storage of a bicycle used "regularly" for commuting.
$20/month tax-free for purchase, repair, maintenance, and storage of a bicycle used "regularly" for commuting.
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I didn't know either, but I just contacted my HR department about it. I knew about the benefit as it relates to public transit, but had no idea bicycles shared in it as well. Not much money, but every bit helps.
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Exempt1 up to certain limits if for rides in a commuter highway vehicle and/or transit passes ($245), qualified parking ($245), or qualified bicycle commuting reimbursement 6 ($20). (See Transportation (Commuting) Benefits , later in this section.)
6 If the employee receives a qualified bicycle commuting reimbursement in a qualified bicycle commuting month, the employee cannot receive commuter highway vehicle, transit pass, or qualified parking benefits in that same month.
6 If the employee receives a qualified bicycle commuting reimbursement in a qualified bicycle commuting month, the employee cannot receive commuter highway vehicle, transit pass, or qualified parking benefits in that same month.
My employer participates in an Ecopass program with RTD here in Denver. I might use my Ecopass once a year, tops. That's about $2 per year benefit I get from the Ecopass. But, because my employer gives all employees an Ecopass (which is a stipulation of the Ecopass program), I get no bicycle benefit.
We have a van pool program around here for the people who live way out in the sticks. They get the $245 per month reimbursement even with the Ecopass program. They are contributing to sprawl and air pollution and water pollution and all the things that go along with living long distances (some up to 75 miles) but they are "green" and deserve extra credit for putting 6 bodies in a van. I ride a bike to work, save 2 tons of carbon a year (40 tons since 1988), save about 1000 gallons of gas per year (7500 gallons since 1988) and reduce congestion significantly but, because I ride a "toy", Congress has decided that I don't deserve any extra benefit. Chaps my hide
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Stuart Black
Plan Epsilon Around Lake Michigan in the era of Covid
Old School…When It Wasn’t Ancient bikepacking
Gold Fever Three days of dirt in Colorado
Pokin' around the Poconos A cold ride around Lake Erie
Dinosaurs in Colorado A mountain bike guide to the Purgatory Canyon dinosaur trackway
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I've known of that benefit in the past but my employer at the time did not want to participate in any of it as I was the only one to be so foolish to commute to work by bike. LOL> Its the same thing with my present employer. Commuters are so few that these benefits rarely got used and will go away after a while.
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325,000 bikes so far have been bought through this programme:
https://www.cyclescheme.co.uk/
scheme overview: https://en.wikipedia.org/wiki/Cycle_to_Work_scheme
https://www.cyclescheme.co.uk/
scheme overview: https://en.wikipedia.org/wiki/Cycle_to_Work_scheme
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There are caveats to that benefit. From the IRS
If you van pool, you can get up to $245 per month in tax exemption. If you get parking, you can get up to $245 per month in tax exemption. If you get a transit pass, you can get up to $245 month in tax exemption but if you bicycle and you get one of those benefits, no bike reimbursement for you!
If you van pool, you can get up to $245 per month in tax exemption. If you get parking, you can get up to $245 per month in tax exemption. If you get a transit pass, you can get up to $245 month in tax exemption but if you bicycle and you get one of those benefits, no bike reimbursement for you!
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Hmmm, I was a little excited at first, but now I'm confused. Is this IRS document addressed to employers or individual tax payers? I don't see how "Bicycle Commuting" is a fringe benefit offered to me by my employer. Is this a $20/mo * 12mo = $240 deduction I put in a particular box on Sked A or something? Or is this just saying, it is IRS-allowable for my company to incentivize bike commuting by offering me a tax-free $20/mo?
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Plan Epsilon Around Lake Michigan in the era of Covid
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Stuart Black
Plan Epsilon Around Lake Michigan in the era of Covid
Old School…When It Wasn’t Ancient bikepacking
Gold Fever Three days of dirt in Colorado
Pokin' around the Poconos A cold ride around Lake Erie
Dinosaurs in Colorado A mountain bike guide to the Purgatory Canyon dinosaur trackway
Solo Without Pie. The search for pie in the Midwest.
Picking the Scablands. Washington and Oregon, 2005. Pie and spiders on the Columbia River!
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325,000 bikes so far have been bought through this programme:
https://www.cyclescheme.co.uk/
scheme overview: https://en.wikipedia.org/wiki/Cycle_to_Work_scheme
https://www.cyclescheme.co.uk/
scheme overview: https://en.wikipedia.org/wiki/Cycle_to_Work_scheme
__________________
Stuart Black
Plan Epsilon Around Lake Michigan in the era of Covid
Old School…When It Wasn’t Ancient bikepacking
Gold Fever Three days of dirt in Colorado
Pokin' around the Poconos A cold ride around Lake Erie
Dinosaurs in Colorado A mountain bike guide to the Purgatory Canyon dinosaur trackway
Solo Without Pie. The search for pie in the Midwest.
Picking the Scablands. Washington and Oregon, 2005. Pie and spiders on the Columbia River!
Stuart Black
Plan Epsilon Around Lake Michigan in the era of Covid
Old School…When It Wasn’t Ancient bikepacking
Gold Fever Three days of dirt in Colorado
Pokin' around the Poconos A cold ride around Lake Erie
Dinosaurs in Colorado A mountain bike guide to the Purgatory Canyon dinosaur trackway
Solo Without Pie. The search for pie in the Midwest.
Picking the Scablands. Washington and Oregon, 2005. Pie and spiders on the Columbia River!
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However, I will try to find an appropriate bean-counter to forward the alternative transportation incentive info to, probably to no avail.