New Tax Incentives For Electric Bikes

GOGO eBikes

Going green has never been so rewarding. Did you know Electric-vehicle production just got another boost from Uncle Sam? The Senate Finance Committee has approved a $2,500 tax incentive for electric bikes and electric motorcycles. The goal of the bill, is to create and keep U.S. jobs by encouraging growth of American manufacturers through consumer incentives.

In addition to the IRS's latest tax incentive, if you using an electric bike for your work commute at least three days a week you are also eligible for an expense reimbursement of up to $20 per month through your employer. The credit is intended to help offset some of the costs of bike commuting, such as the purchase of a bike, bike lock, helmet, parking pass, maintenance and even shower facilities. Employers can choose to reimburse receipts, or offer monthly payments or vouchers.  If your employer doesn't offer it, find out when they plan to implement it- it's law as of January 1, 2009. See Section 132(f)(5)(F)(iii) of the Internal Revenue Code of 1986. Learn more through the League of American Bicyclists and the office of Congressman Earl Blumenauer

In going green with an eBike or electric bike you are not only being rewarded by the IRS and saving the planet by eliminating harmful toxins and air pollutants. Traveling by electric bike is also fun way to get around town and has its health benefits with a user-selectable mix of battery and pedal power. In addition to the many great advantages to going green, an eBike can reduce your operating costs significantly when contrasted with current fuel prices. Many are staying close to home and are seeking more cost effective means of transportation to local places of interest. Electric Bikes also require very little maintenance and do hold their resale value significantly