how do I get this money?

AP about the bicycle tax credit

how do I get my money?



CycloneCross said...

I did some digging on the Library of Congress website and came up with the text of the 6th version of H.R.1424 which is what was passed. The specifics are in SEC. 211. TRANSPORTATION FRINGE BENEFIT TO BICYCLE COMMUTERS. The text is linked to on by blog.

The AP article contains some different figures from what I'd seen other places.

Jim said...

"For the purchase of a bicycle."


"Seriously, Mr. IRS Man. How do you expect me to ride to work on anything less than a Colnago Extreme Power with Zipp 404s? No, really, it cost $10k. I know it looks like plastic. Yes, we really do spend that much on the bikes, the lycra is nothing compared to the embarassment of owning a bike worth 5x what your car is worth. You're just going to have to take my word. What's that? Oh, yeah, well, sometimes I ride on the gravel part of the C&O Canal trail so I needed a full boinger carbon 29'er. There's big bumps on that trail... ping-pong ball-sized rocks and everything."

Phil Lepanto said...

I am not entirely sure, but I _think_ that if your employer currently offers Metro Cheks or free parking to your fellow employees, they are now obligated to provide a similar benefit to you for the purposes of bicycle commuting related expenses.