Showing posts with label tax benefits. Show all posts
Showing posts with label tax benefits. Show all posts

Friday, January 9, 2009

Commuting by Bike - Information from Fairfax County

Commuting by Bike


Bike Racks on Fairfax Connector Buses
Now it is easier than ever to commute by bike and bus as all of the Fairfax Connector bus fleet has been equipped with bicycle racks. Each bus has been equipped with a front-mounted rack capable of carrying two bicycles. Instructions on how to use the bike racks are available on the Fairfax Connector Web pages. An instructional DVD and brochure have been produced and are available at the Connector Stores.

Remember, there is no cost to bring your bike on board!

What about other transportation systems, can I take my bike on Metrobus, Metrorail or VRE?
All Metro buses are equipped with bicycle racks similar to those mounted on Fairfax Connector buses. There is no additional cost and there are no restrictions. For detailed information see the Bicyclists on Metrorail web page.

Certain restrictions are in place for taking your bike on Metrorail including peak period and loading restrictions. For detailed information see the Bicyclists on Metrorail web page.

The Virginia Railway Express (VRE) now allows bicycles but there are restrictions. For detailed information about using your bike on VRE trains, consult the VRE On-Board Policies web page.

Other Commuting Options
Fairfax County is trying to increase your commuting options. Bicycle racks and lockers are available at most park and ride lots within the county. To find out if they are available near you, visit the Park and Ride page.

Tips for Biking to Work

Hundreds of Fairfax County commuters bike to work every day. It’s not uncommon for a commute by bike to exceeded a distance of 20 miles one way. For most, the commute is much shorter. Bicycling is a healthy, clean, economical and fun way to get to work. To get started:

Lay out a bike-friendly route
Try a practice run to see how long it takes
Try biking one day a week to start
Find co-workers or friends to commute with
If you need help in finding a route, contact your local bicycle club or bike shop, most are more than willing to assist you.

Remember, when sharing the road, make sure you wear high visibility clothing and abide by the motor vehicle laws of the Commonwealth. At night, wear reflective clothing or accessories, use a headlight and taillight and always wear a helmet.

Bike Commuter Tax Benefit Passes Both House & Senate

New Benefit for 2009

After 7 years of being tossed back and forth, the bike commuter tax benefit has finally passed both House and Senate, as part of the $700B financial services bailout package. President Bush signed the legislation almost immediately, and it is now law.

What does this legislation mean?

The bottom line is, you can get up to $20/month tax-free from your employer, if he feels like giving it to you, to reimburse you for your bike commuting expenses. Your employer can write it off as a business expense. This benefit goes into effect at the beginning of the year 2009.

The reimbursement can be “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.”

This is similar to the tax-free reimbursements offered to transit riders, and cannot be combined with those. Multimodal commuters already getting the transit benefit cannot get the bike benefit too.

Full text of the legislation follows, as the link we supplied earlier expires:

SEC. 211. TRANSPORTATION FRINGE BENEFIT TO BICYCLE COMMUTERS.

(a) In General- Paragraph (1) of section 132(f) is amended by adding at the end the following:

`(D) Any qualified bicycle commuting reimbursement.’.

(b) Limitation on Exclusion- Paragraph (2) of section 132(f) is amended by striking `and’ at the end of subparagraph (A), by striking the period at the end of subparagraph (B) and inserting `, and’, and by adding at the end the following new subparagraph:

`(C) the applicable annual limitation in the case of any qualified bicycle commuting reimbursement.’.

(c) Definitions- Paragraph (5) of section 132(f) is amended by adding at the end the following:

`(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).’.

(d) Constructive Receipt of Benefit- Paragraph (4) of section 132(f) is amended by inserting `(other than a qualified bicycle commuting reimbursement)’ after `qualified transportation fringe’.

(e) Effective Date- The amendments made by this section shall apply to taxable years beginning after December 31, 2008.