If you bicycle to work, save the receipts for your commuting-related costs. Starting this year, bicycle commuters might be able to claim reimbursement of some of their expenses thanks to the federal bailout bill of October 2008. Buried in the legislation was the Bicycle Commuter Tax Provision, which expands commuter fringe benefits enjoyed by drivers and public transportation users to bicycle computers.
According to IU Human Resources, the details of reimbursement are pending. The IRS has not yet issued regulations regarding the administration of the bike benefit. “As soon as the regulations are issued, we will evaluate what it will take to implement this benefit at IU.”
I wonder if I could manage a new commuter bike out of this! My current one is a 15 year old mtb with slick tires, its heavily weathered, and in need of some major TLC. Or.... I could get a new bike! Then I would really be doing my part for the economic stimulus plan by buying one. I'd be spending money, supporting bike & component manufacturers, using renewable energy resources by riding my bike instead of driving (just put food in my stomach, and my legs are ready to go). Not using fuel, or emitting carbon dioxide (well, maybe a little on occasion, you know what I mean), getting exercise (being healthy, keeping my health care costs down).
I've got my eye on the Felt Urban X
3 comments:
Hmmm... definitely some good food for thought here. :o)
Use whatever means necessary to justify a new bike! Be sure to save receipts for all of the following: cold weather gear (hats, gloves, tights, etc.), lube, tubes, and tires. Surely all of that will add up to $20. Oh, and doesn't IU require a bicycle parking permit? capture that too. Now if donuts were an included expense...
Don't know if you have the same bike theft problem at IU that we have at Stanford. I'm riding a 20 year old mountain bike and I still have to make sure I lock it properly because they will steal anything. That Felt bike does look cool!
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