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Permalink Reply by Jaik S. on April 2, 2013 at 6:05pm

We commuters qualify for the transportation fringe benefits. I learned something new today.

http://www.law.cornell.edu/uscode/text/26/132

Internal Revenue Code 26 USC §132(f)(1)(D).

Definitions are gone over at 26 USC §132(f)(5)(F).

(f) Qualified transportation fringe

(5) Definitions

(F) Definitions related to bicycle commuting reimbursement

(i) Qualified bicycle commuting reimbursement The term “qualified bicycle commuting reimbursement” means, with respect to any calendar year, any employer reimbursement during the 15-month period beginning with the first day of such calendar year for reasonable expenses incurred by the employee during such calendar year for the purchase of a bicycle and bicycle improvements, repair, and storage, if such bicycle is regularly used for travel between the employee’s residence and place of employment.

(ii) Applicable annual limitation The term “applicable annual limitation” means, with respect to any employee for any calendar year, the product of $20 multiplied by the number of qualified bicycle commuting months during such year.

(iii) Qualified bicycle commuting month The term “qualified bicycle commuting month” means, with respect to any employee, any month during which such employee—

(I) regularly uses the bicycle for a substantial portion of the travel between the employee’s residence and place of employment, and

(II) does not receive any benefit described in subparagraph (A), (B), or (C) of paragraph (1).

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Permalink Reply by Far'arned Retrogrumpalunkus #63 on April 3, 2013 at 12:40am

Another win for Big Battery™. 

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