Thursday, October 09, 2008

[Cyclelicious] New comment on Bike commuter benefit now law!.

Yokota Fritz has left a new comment on your post "Bike commuter benefit now law!":

Dave, slight correction -- many employers provide Section 132 benefits on top regular salary, instead of taking it out of the salary pre-tax like cafeteria plans. IRC 132 allows it to be done either way. My last three employers provided my transit benefit on top my salary, while the previous to that took the benefit from my paycheck first pretax.

As part of the defintion of "Qualified Bicycle Commuting Month," the code says "and does not receive any benefit described in subparagraph (A), (B), or (C) of paragraph (1)'" (i.e. the other benefits).

Posted by Yokota Fritz to Cyclelicious at 10/09/2008 10:49:00 AM