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Medical Mileage Rate Decrease Effective January 1, 2009
Effective January 1, 2009, the standard mileage reimbursement rates for medical and moving purposes have decreased from the current rates. As a reminder, the use of an automobile to obtain medical care may be a deductible medical expense if the expense is primarily for, and essential to, medical care.
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New Transportation Fringe Benefit to Bicycle Commuters
The benefit -- up to $20 per month -- begins with the new year in 2009. Employers may reimburse employees, tax free, for "reasonable" expenses related to their bike commute, including equipment purchases, bike purchases, repairs, and storage if the bicycle is used as a "substantial part" of the commuter's trip to work for the month.
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Breaking News--Increased 132 Transit Limits for 2009 Just Announced
The qualified transportation monthly limits for 2009 are increased to $120 for commuter transit and $230 for parking. (See Rev. Proc. 2008-66.)
Read more … Breaking News--Increased 132 Transit Limits for 2009 Just Announced