It is not a benefit to employers. The way this will work is that bicycle commuting can be added to a Transportation Reimbursement Account at your company. Currently, if your company has this set up, you can have parking fees or T-passes paid for with pre-tax income. So what this would mean is you could set aside $20 of your monthly salary to be used for bicycle-related expenses.<br>
<br>All of this requires the company set up the account. There are websites like <a href="http://wageworks.com">wageworks.com</a> that currently handle the parking and transit passes; not sure if/when they will add this. There is a small benefit to the employer because the money you set aside in this manner will not be taxed for the employer's contribution to FICA...<br>
<br>good writeup here too: <a href="http://www.cyclelicio.us/2008/10/bike-commuter-benefits-act-passes.html">http://www.cyclelicio.us/2008/10/bike-commuter-benefits-act-passes.html</a><br><br>-- <br>Dave Atkins<br><a href="http://blog.davewrites.com">http://blog.davewrites.com</a><br>
<a href="http://westwoodblog.org">http://westwoodblog.org</a><br><br><div class="gmail_quote">On Mon, Nov 24, 2008 at 9:02 AM, Jon Ramos <span dir="ltr"><<a href="mailto:jontramos@yahoo.com">jontramos@yahoo.com</a>></span> wrote:<br>
<blockquote class="gmail_quote" style="border-left: 1px solid rgb(204, 204, 204); margin: 0pt 0pt 0pt 0.8ex; padding-left: 1ex;"><div><div style="font-family: arial,helvetica,sans-serif; font-size: 10pt;"><div><i><font size="2" face="Arial"><span style="font-size: 10pt; font-style: italic; font-family: Arial;">"</span></font>Starting next year, employers who provide bike parking, bathing facilities, tune-ups, or other support for bicycle commuting, can deduct up to $20 a month per participating employee from their own taxable income."</i></div>
<div><i><br></i></div><div><a href="http://greeninc.blogs.nytimes.com/2008/10/13/buried-in-the-bailout-the-bicycle-commuter-act/" target="_blank">http://greeninc.blogs.nytimes.com/2008/10/13/buried-in-the-bailout-the-bicycle-commuter-act/</a></div>
<div><br></div><div>Good to know that I my employers will be saving money each month by my riding to work each day. My company has indoor bike parking, and because we have so many bike commuters, they also reimburse up to $35 / month
towards a membership at the gym down the street so that we can shower after our commute. I think it is great that they can get some of that money back. Or better yet, maybe I'll ask to see some of that in my paycheck. (but I won't hold my breath).</div>
<div><br></div><div>This act would be even better if it gave additional incentives to the people who actually do the riding. I would be satisfied as it stands, but the more the gov't gives to the riders, the more riders there will be, resulting in more businesses adding shower facilities etc.</div>
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