Bailout Tax Credits for Bikers
Turns out that the $700 billion Bailout contained a provision that anyone who bikes to work can claim a $20 tax credit per month in exchange for making the world a better place. The problem with this law is that most of the people who bike to work and care about the earth, breathing, etc… are lazy when it comes to taxes. I sure all the guys who park their Suburbans in bike lanes will pump up their old Raleigh’s tires and claim the credit to offset gas prices.
via The Lede
By- rockythompson
This entry was posted on WEDNESDAY, OCTOBER 8, 2008 - 8:00 A.M. and is filed under Story, Cycling. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
October 8th, 2008 at 11:09 am
does anyone have any idea how this will potentially work? i’ve forwarded this information to my employer, but I just have no idea how to implement something like this.
October 8th, 2008 at 6:48 pm
If you itemize your taxes and are considered “self employed” it’s cheaper to drive (or at least say you drive)
October 9th, 2008 at 6:14 am
http://www.bikeleague.org/news/100708faq.php
LAB has some info on it.
October 9th, 2008 at 9:34 am
I head you had to get a note from your mom and take that to the IRS.