Go Green, Ride Your Bike to Work and Get a Pretax Deduction for it!
Employees can now deduct $20/mo. pretax for bike commuting (your payroll taxes).
The benefit:
- Must be actively elected by the employee.
- Cannot be received in the same month as a transit, vanpool or parking benefits -e.g., Sally cannot bike one day and drive or take the bus another.
- Is only for those who “regularly use a bicycle for a substantial portion of travel between the …. residence and place of employment.”
- Cannot be claimed if biking is “infrequent or constitutes and insubstantial portion of the employee’s commute” for the month -e.g., January in Pittsburgh.
