Did You Know?
Bike shops: Watch for commuter vouchers
The new bike commuter benefit means big things for cyclists and their local bike shops.
Businesses can now offer their employees up to $20 each month to pay for costs related to their bike commute.
One way businesses can do that is to distribute vouchers to their employees.
What you should know about the vouchers:
- There is no cost to bike shops for accepting the vouchers.
- Customers can use the voucher to buy bikes, bike equipment, repair and storage. Clothing and food products do not qualify
- You can deposit them into your business checking account just like regular checks.
- The maximum value for each voucher is $20.
- If the voucher doesn’t display the words “Commuter Check for Bicycling,” you cannot accept it, according to IRS regulations. Commuter checks are clearly labeled for parking, transit, or bicycling.
See more details on processing these vouchers here
Questions? Contact Melody Geraci at email@example.com or 312.427.3325 x 240.
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