company provided vehicles

  • Today’s pandemic has forced all of us to re-evaluate our schedules, our priorities and our decisions. That includes the business decisions we’ve made to adapt to current circumstances: cutting costs, halting business travel and, in some cases, furloughing and laying off employees. Every company has needed to adapt. Most companies have focused on uncovering cost…

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  • Of the four major vehicle programs, company-provided vehicle programs make up a significant number. According to our 2019 mobile workforce benchmark report, they were the second most popular. A company-provided vehicle program is simple: the company provides its mobile employees with a fleet vehicle for necessary business travel. What’s less simple is the continued expense….

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  • 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…

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  • Employers have two options for providing for their mobile workers: offering company-provided vehicles (fleets) or reimbursing employees for the business use of their personal vehicles. While both programs offer many distinct benefits, there are times when offering company vehicles makes the most sense. Below, we take a look at the most common reasons companies choose…

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