Risk & Compliance

ASC 842 Compliance and Your Vehicle Program Lease accounting used to be a Wild West of off book expenses. The culprit? A loophole in the Generally Accepted Accounting Principles (GAAP) set forward by the U.S. Securities and Exchange Commission. But in early 2016, the Financial Accounting Standards Board (FASB) established a new set of rules…

Winter Driver Safety and How to Protect Your Business The time to be mindful about Winter driver safety has come. If you’ve been keeping up with news, then you’ll understand how brutally cold 2019 has been so far. Chicago, for example, reached -23 degrees Fahrenheit: its coldest temperature since 1994. Flights and college classes have…

Illinois’ New Labor Law and Business Mileage Reimbursement Illinois recently passed an amendment to the Illinois Wage Payment and Collection Act (IWPCA). This amendment requires employers to reimburse their workers for “necessary” costs “directly related to services performed for [their] employer[s].” While this new law does not go into effect until January 1st of 2019,…

Distracted Driving and Your Company Distractions come in all shapes and sizes. Wind on the back of your neck can break your attention, though not as violently as a giant pitcher of flavored drink mix smashing through your wall. Regardless of how they arrive, distractions have the same affect, pulling your attention away from where…

The rise of the gig economy – in which companies rely on classifying workers as independent contractors, even if those workers choose to work full-time – has raised the profile of the employment law topic. With the recent Dynamex Operations West Inc. v. Superior Court of Los Angeles decision, the debate around worker classification is…

HR and IT Collaborate for Better Cyber Security, Technology and Employee Experience As Human Resource leaders, we’re laser-focused on recruiting, hiring and retaining top talent. But how? By finding ways to continuously improve the employee experience with the help of technology. It all makes sense: if employees have a seamless onboarding experience and are armed…

When it comes to managing risk in their vehicle programs, companies use several methods to protect their business and their mobile employees. According to a recent Motus study, 69% of companies verify auto insurance, and 39% use Motor Vehicle Record (MVR) checks. While these are helpful tools in a time of increasing vehicle accident rates,…

According to the National Highway Traffic Safety Administration (NHTSA), in 2016 there were 3,450 people killed in motor vehicle crashes involving distracted drivers. In the first Distracted Driving Awareness Month blog post we discussed how this increase impacts car insurance rates. While the increasing expense may hurt a company’s bottom line, vehicle accidents impact businesses…

Did you know that April is National Distracted Driving Awareness Month? Keeping drivers safe behind the wheel is important for everyone on the road. Due to increasing mobility, there are millions of people driving for work every day. As a result of more drivers on the roads, the number of vehicle accidents and injuries have…

The recent passage of federal tax reform legislation (aka the Tax Cuts and Jobs Act, or TCJA) left many with questions. For our customers in particular, the big one is: “What does this mean for my vehicle reimbursement plan?” The good news is that the legislation has no impact on the fundamentals. Businesses using Fixed…