Anybody have any luck getting their employer to kick the bicycle commuter tax provision in? Short story is the rider gets up to $240 per year, so it would be a good way to cover the occasional tires, flat repairs, gloves, helmets, that sort of thing.
Here's the response when I asked reps from where I work:
The tax guys said that employees would exclude the reimbursements from their income, and the company could take a tax deduction. Since a tax deduction is not the same as a tax credit, there would be an additional cost to the company to set up and administer the program, plus the reimbursements.
I interpret this as a way of them saying there's nothing in it for them, we're in a great recession, thanks for asking, don't bother us again.
Any other luck out there? Does the employer have to do any paperwork, or can I just claim expenses in my taxes come next April? Does anybody care?
Other than that, welcome back from the 3-day weekend.
2 comments:
I'm getting my $20 per month. The burden of the paperwork is on me, though. Not that it's much effort.
Given the rash of lay-offs in your industry, wouldn't it be better to just merely have a job to bike to right now than to worry about the tax credit. I am all for tax breaks for biking to work, but it seems like stepping over $100 bills to pick up pennies given the odd economic environment.
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