Replies to This Discussion

Permalink Reply by Tank-Ridin' Ryan on February 8, 2009 at 8:47am

Wien, welcome.

BK has been posting his findings on the commuter benefit here: http://www.thechainlink.org/forum/topics/i-am-going-to-chronicle-my

It hasn't been updated in a few days, but I'm sure it will be once he gets new info.

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Permalink Reply by Wien on February 16, 2009 at 10:51am

Thanks for the updates!

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Permalink Reply by Rachel on February 16, 2009 at 2:35pm

Wow - thank you! I am going to tell my boss and my company's CPA. I wonder if there are benefits for those who work from home.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/09/BA1D13D...
This should apply to those of us who work from home.....

It would have been nice if they cut employers out of the transaction: simply give us the refund on our taxes without us having to get it from our employers first and then have the employers claim the expense. It puts us in the position of going to our employers with palm out for $240.00.

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Permalink Reply by David the Great on April 23, 2009 at 7:35am

Keep in mind, this is not a real 240$ - this is a "pre-tax" 240$, so 240 that won't be taxed. If you're taxed at 15% 240*.15 = 36$

20*.15=3$ a month. Woo hoo?

I like this section of the tax code though:

Qualified bicycle commuting reimbursement. For any
calendar year, the exclusion for qualified bicycle commut-
ing reimbursement includes any employer reimbursement
during the 15-month period beginning with the first day of
the calendar year for reasonable expenses incurred by the
employee during the calendar year.
Reasonable expenses include:
• The purchase of a bicycle and
• Bicycle improvements, repair, and storage.
These are considered reasonable expenses as long as the
bicycle is regularly used for travel between the employee’s
residence and place of employment.

w00t p15b.

David

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Permalink Reply by David the Great on April 23, 2009 at 10:35am

h3 said:

David the Great said:

Keep in mind, this is not a real 240$ - this is a "pre-tax" 240$, so 240 that won't be taxed. If you're taxed at 15% 240*.15 = 36$

20*.15=3$ a month. Woo hoo?

I like this section of the tax code though:

Qualified bicycle commuting reimbursement. For any
calendar year, the exclusion for qualified bicycle commut-
ing reimbursement includes any employer reimbursement
during the 15-month period beginning with the first day of
the calendar year for reasonable expenses incurred by the
employee during the calendar year.
Reasonable expenses include:
• The purchase of a bicycle and
• Bicycle improvements, repair, and storage.
These are considered reasonable expenses as long as the
bicycle is regularly used for travel between the employee’s
residence and place of employment.

w00t p15b.

David

It's a symbolic victory which validates bicycles as transportation at a national policay level. It's a small, but significant step forward, a foot in the door. Kudos to those who make the effort to squeeze an ankle and maybe a knee in.

I agree. Unfortunately, I checked the tax code and I already receive transit benefits (~30$/month) so it wouldn't be financially interesting. Ah well.

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Permalink Reply by David the Great on April 23, 2009 at 3:41pm

Sweet!

Pete said:

My workplace has offered to reduce our tax by $20, but that doesn't sound like "pre-tax dollars." It sounds more like changing how much you withhold, as that $20 would still be taxed. That's as far as I got, but it's another step in the right direction.

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Permalink Reply by Mike Bullis 5.5-6.5 miles on April 23, 2009 at 4:44pm

My companies' COO and I tried to figure this thing out and we both decided that it wasn't worth the brain damage. I'm the only on at my place that rides in and I've spent so much time working in the field this year that, even if I do figure it out, I won't commute enough to qualify for the benefit.

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Permalink Reply by Wien on April 24, 2009 at 3:30am

BK,

Thanks for following up on this! I agree with you on it's a symbolic victory than a financial gain. Anyway, it's good for all bicycle commuters.

I have contacted my company HR regarding this but haven't heard back from her. My company may not consider reimbursing the bike commuter cost because of such bad economic environment and the complicated procedure of reimbursement. I should feel lucky that I still have a job so that I can ride my bike to work. Besides, I am the only committed year-round bicycle commuter in the company.

If I hear anything, I will post it here.

Have a real nice weekend! It seems the summer is finally here. Enjoy riding!

BK said:

Hi, Wien. I struck out miserably in my attempt to attain the benefit. I must admit I'm still pretty disgusted about how my HR Director handled the situation, but I digress. A search of the key terms would certainly yield good results on Chainlink. Locally, I think Active Transportation Alliance (ATA) has good stuff on their site and nationally, I'd say the League of American Bicyclists is a prime source. To answer your second question, I do not know of anybody who has received this benefit. Good luck!

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Permalink Reply by Eric R on June 26, 2013 at 6:15am

Now that the RTA is issuing a debit card for transit benefit funds (More Info) that can be used to purchase tickets for CTA, Metra, Pace, Chicago Water Taxi and Amtrak - it is time to officially include bike commuting - by adding Divvy as an option!

Does anybody know if this is in the works? If not, it is time for this to happen, especially since Divvy is associated with the City of Chicago (i.e. the government).

ATA, I'm lookin' at you guys and gals! :)

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Permalink Reply by Mike Zumwalt on June 26, 2013 at 10:28am

You can only choose one option. Biking, Transit or parking/mileage reimbursement, for pre-tax and if you drive over a certain amount of miles to get to work.

I didn't get the $20 a month in pay from a previous employer but they did reimburse me for expenses with receipts UP TO $20 a month. If I went over they rolled it into next month. Not bad. :-)

It was piggy backed onto a bill by Obama and the company gets reimbursed from the govt. as part of an initiative to get people on transit and bikes. It doesn't cost you or the company any thing more.

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Permalink Reply by Eric R on June 26, 2013 at 10:40am

It appears the new system will allow more flexibility within the transit option, after your pre-tax dollars are loaded onto the RTA "PayPass" card you can use it at any qualified transit agency (CTA, Metra, Pace, Water Taxi and Amtrak).

I'm hoping Divvy can be added to the list as a "qualified transit agency". Don't get me started on the parking option! :)

Mike Zumwalt said:

You can only choose one option. Biking, Transit or parking/mileage reimbursement, for pre-tax and if you drive over a certain amount of miles to get to work.

I didn't get the $20 a month in pay from a previous employer but they did reimburse me for expenses with receipts UP TO $20 a month. If I went over they rolled it into next month. Not bad. :-)

It was piggy backed onto a bill by Obama and the company gets reimbursed from the govt. as part of an initiative to get people on transit and bikes. It doesn't cost you or the company any thing more.

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