Boston is among the largest major cities widely recognized as an economic powerhouse of development and in job growth. Boston is also the home of the nations top colleges and universities. This year Boston has been named as the worst US city for drivers.
While some Boston work commuters prefer the comfort and luxury of driving into the city, there is an opportunity cost. Many daily Boston work commuters are often faced with the daily challenges of heavy downtown traffic congestion, detours, delays, accidents, construction and road closures. Daily drivers then are confronted with issue of limited space and high parking fees.
Boston is highly recognized as a considerably friendly and favorable to cyclists with a well-known commitment to safety and sustainability by providing inviting bicycle lanes, paths and trails to encourage the use of bicycles for area residents and commuters.
Free Bicycles For Commuters?
There are many programs in place as incremental tax advantages to bring you ahead of a new bicycle purchase. While bicycle riding is widely encouraged by state and government agencies, there is an abundance of hidden savings and incentives available for working class bicycle commuters, such as the Commuter Benefit.
The Commuter Benefit is real and in full effect in 2015. Commuter Benefits were actually born from the Clean Air Act of 1990. Commuter benefits are paid to bike commuters by thier employer monthly in the amount of $20.00 or in an annual amount of $240.00 for cycling to work 3x a week just from your employer. Your employer could offer you a larger reimbursement but any amounts in excess of the $20/month would not be considered de minimis and would be reportable as income on your federal income tax return.
At the same as all other pre-tax benefits and credits for transit and parking for your commuter bicycle or electric vehicle currently available by the IRS. The amount of money you set aside to pay for your commute doesn't count as income, so you're not taxed on it.
By having your commuting costs automatically deducted from your paycheck, you're actually taking home more money and giving less to Uncle Sam. It's something you're going to pay for anyway, so not doing it is like saying "no thanks" to free money.
Qualified transportation fringe benefits (Section 132(f) of the Internal Revenue Code) or "Commuter Tax Benefits" is like money in the bank. Employers save on payroll related taxes. Employees save on federal income taxes.
(See Section 2, "Transportation (Commuting) Benefits" of the IRS Publication 15-B (2009), Employer's Tax Guide to Fringe Benefits)
Section 211 of the "Emergency Economic Stabilization Act of 2008" which allows for a "qualified bicycle commuting reimbursement" for "reasonable expenses incurred by the employee during such calendar year.
Reasonable Expenses
The purchase of a bicycle and bicycle improvements, repair, storage parking. These are considered reasonable expenses as long as the bicycle is regularly used for travel between the employee's residence and place of employment.
Whether you are looking to beat city traffic, adventure into the mountains or seeking a healthy traveling alternative, your contribution to the environment and commitment to a healthier lifestyle starts rewarding you with instant gratification each time you ride. - Let your bicycle work for you. Think Relativity
In addition to the health rewards, employer incentives and incremental listed tax advantages of commuting to work by bicycle, Boston's Bike Friendly Business awards program also recognizes companies that incorporate bike-friendly practices to encourage their employee's ride.
Consider the Benefits of Owning an Electric Bicycle Today!
Street legal electric bicycles are a great choice for work commuters and do not require a state drivers license to operate and low cost to maintain.
