Monday, November 17, 2008

Tax Benefits of Biking

Ok so it's the third week of November, and I am still using my bike to ride to work. At lunch I did my 'Three Cities Tour' through Biddeford, Saco, and Old Orchard which goes for a total of 13.9 miles according to my odometer.

Next year, there sill be an added incentive for biking to work. Congress has inserted a provision into the massive bailout plan allowing bicycle commuters to deduct up to $20 for each month that they commute starting in 2009. This year I started biking in mid April, and have continued through to Mid November, and possibly longer. That makes 7 months of comuting, so if I continue to take my bike to work I could write off $140. Small potatoes perhaps, but any bit will do.

Now will I be able to write off my breakfast and lunch as fuel expenses?

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