New IRS Subsidy to Help Commuter Cyclists
Congress has added bicycle commuters to groups of workers who can get a tax break to help cover the cost of getting to and from the office. Just as employers can provide tax-free reimbursement for the cost of parking or transit passes, they can also subsidize the cost of biking to work. At $20 a month, the cap on tax-free money for cycling is far less than what’s available for parking ($230 a month) and transit passes ($120 a month). But every little bit helps.
