Company Car

A company car is a valuable perk but don’t forget about taxes

Business Expenses, de mimimis Fringe Benefits, Employees, Federal Tax Deductions, Federal Taxes, Fringe Benefits For Employees, Tax Cuts and Job Acts (TCJA), Tax Deduction, Vechicle / Douglas Freeman

One of the most appreciated fringe benefits for owners and employees of small businesses is the use of a company car. This perk results in tax deductions for the employer as well as tax breaks for the owners and employees driving the cars. (And of course, they enjoy the nontax benefit of using a company […]

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The tax implications of a company car

Employee Benefits, Income Tax, Repairs and Maintenance, Small Business, Tax, Tax Deduction, Tax Planning, Vehicle Expenses / Douglas Freeman

The use of a company vehicle is a valuable fringe benefit for owners and employees of small businesses. This benefit results in tax deductions for the employer as well as tax breaks for the owners and employees using the cars. (And of course, they get the nontax benefits of driving the cars!) Even better, recent

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