Vehicle Programs

Offsetting the Effects of Car Depreciation with Motus When you purchase a vehicle, whether it be fresh off the lot or used from a dealership or online marketplace, this asset depreciates as soon as you start driving it on the road. Simply put, car depreciation can be defined as the declining value of an asset…

Personal Car or Company Car: Common misconceptions around driving for work With so many options out there for how you choose to organize a vehicle program and all of the feelings that come with it … How can you figure out what’s going to work best for you, for your company and for your team…

How the IRS Impacts Your Company’s Vehicle Program Companies generally think of visits from the IRS the same way people think of being served a subpoena. Whether it’s the possibility of an audit, or just … well, anything to do with an audit, not complying with IRS guidelines can be risky. And your vehicle program…

What makes a car allowance taxable income? Across industries, car allowances have long been a favorite vehicle program. The reasoning is as simple as the program itself: a car allowance is easy to implement and upkeep. Which, for a company with hundreds of mobile employees, or just a handful, may seem like the way to…

Does an accountable allowance vehicle program meet your mobile workforce’s needs? When it comes to vehicle programs, your company has options. Most companies don’t know what those options are outside of what they already have. But within those options, there are more options. For example, a mileage reimbursement program, or a Cents-Per-Mile (CPM) program, can…

What is a mileage allowance program and how does it work? Mileage allowance. Sometimes, you hear a term and all you have are questions. What is a mileage allowance? How can it affect my company? What company does it work best with? Should my company be using it? The world of business vehicle programs is…

How are vehicle ownership trends impacted by 2018 car recalls? Automakers issued numerous car recalls in 2018. Fiat Chrysler Automobiles (FCA) recalled almost 6 million vehicles over safety concerns. Toyota recalled over 1 million because of faulty airbags, and began 2019 with a recall over similar issues. Ford, Honda Acura, General Motors and other companies…

What’s the future of electric vehicles? Electric vehicles made recent news when Trump administration official Larry Kudlow announced their intent to remove subsidies for their purchase. This news might cause businesses providing company cars to their employees to pump the breaks on exploring the environmental future of their fleet. But there’s much more to the…

How will the 2019 IRS standard mileage rate impact your business? The 2019 IRS standard mileage rate was announced today as $0.58. Next year’s rate increased 3.5 cents from the 2018 rate. Also referred to as the IRS Safe Harbor Rate, the IRS mileage reimbursement rate and IRS business mileage standard, the IRS standard mileage…

Thanksgiving Travel Highest in Years Thanksgiving travel season is now upon us. In the next few days, you might be putting the finishing touches on Auntie’s favorite stuffing or arguing with your brother in favor of deep-fried turkey over a traditional, roasted bird (I’m in favor of fried myself). You might even dust off your…