If you want to read a lot of CPA tax jargon while learning how to claim a transportation benefit, check out this article by WebCPR editor Howard Wolosky.
Now, you can get the answer to that question you’ve been dying to ask someone:
“What is a qualified bicycle commuting reimbursement fringe benefit?”
Personally, I say the answer is “that good feeling you get from exercise.” Ã‚Â But, according to Uncle Sam, it’s an employer reimbursement for reasonable expenses incurred by the employee during the calendar year for the purchase and repair of a bicycle, bicycle improvements and bicycle storage, provided (here we go) that the bicycle is regularly used for travel between the employee’s residence and place of employement.
Does that mean I can get credit for some new King hubs on my commuter bike?