Did You Know? Ride Your Bike: Get a Tax Break

Posted By: The Ski Channel on May 29, 2009 2:12 pm

It’s about time to stow the skis away until next season (unless you head to a summer ski spot for some runs), but that doesn’t mean you have to hang up your riding habit. Exercise your pedal power and hop onto your bike.

Mountain biking is the workout du jour at ski resorts during the off-season, but these days biking comes with some extra credit. As of January 1, 2009, (yes, that’s this past winter) if you bike to work you’re eligible for a $20 tax-free monthly bonus from your employers. Your boss can then deduct the expense.

The initiative was part of Obama’s bailout plan, and somehow, his team managed to push the bike bill through. (Apparently, this particular “change you can believe in” had been on bicycle enthusiasts’ political wish list for seven years, yet no one could make it happen.)

According to the League of American Bicyclists (an advocacy group), the new employer write-off may cost the government $1 million per year. But clearly, Uncle Sam’s loss is your gain.

 


Photo: The Canyons

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