New Bicycle Commuter Fringe Benefit

I was scanning the ever-popular Emergency Economic Stabilization Act of 2008 (aka The Bail Out Bill) and going through all the tax provisions they buried in with it, and I stumbled upon a small new fringe benefit that I figured would be interesting for Portlanders.

The Act allows employers to provide employees who commute to work by bicycle limited fringe benefits to offset the costs of purchasing and storing a bicycle, and making repairs and improvements.  The exclusion from tax is limited to $20 per month spent commuting by bicycle.

I know it is not much, but every little bit helps these days.

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About Brian Germer, CPA

CPA with Parsons and Germer CPAs, LLP in Portland, OR

One thought on “New Bicycle Commuter Fringe Benefit

  1. It is amazing the amount of pork that went through with the bail out bill. Anyways, It looks like I’ll be about $160 richer next year. One question though, is it a tax deduction or exclusion? I’ve seen it described as both.

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