It seems there’s several versions of both of these. How does your company handle it?
Which do you prefer?
What do allowances look like? Gas and maintenance included or not? And is that for a commuter car or truck?
It seems there’s several versions of both of these. How does your company handle it?
Which do you prefer?
What do allowances look like? Gas and maintenance included or not? And is that for a commuter car or truck?
Last edited by Steelin' Ducks; 07-16-2019 at 08:28 AM.
I am like I want a new truck, and my company is like "okay".
right now I’m driving company provided. I’ve never asked but based on what a few of the other guys drive it seems they’ll give us an allowance as well. Its a free truck that I can use for personal stuff as well if I choose so I’m not complaining.
My company does an allowance. I like it this way we can get whatever we want and I own it myself. Also get a stipend per year for maintenance.
Allowance. I hate the fact that people target a vehicle with a logo, but it happens.
To me the the only advantage as a business owner is the tax break but I was once told “Don’t make business decisions for tax reasons.” Meaning that if a decision has tax implications as a bonus then it’s fine, but don’t do it simply for the tax reasons.
Tax incentives may help, but to do something for tax reasons usually means you have to spend money to get it. As posted above.
Example: You need equipment for business, you buy it. Sec 179 may help, depends on your tax circumstances. But do not buy something just to use Section 179. You are out far more money than 179 is going to save you.
Same for those Kidney Cars. You can likely sell a car for what they say it is worth. Example, sell a car for 2K, you MIGHT be able to get a deduction for $400 if you donated it instead, if you itemize. Maybe more, but not $2k. You might get more if you scrap it.
Back to original post, lots of my clients do well to pay themselves, or get paid, for actual mileage. Real simple. Keeps vehicles off of the books in most cases.
It's not enough to simply tolerate the 2nd Amendment as an antiquated inconvenience. Caring for the 2nd Amendment means fighting to restore long lost rights.
My company pays me a monthly allowance that pretty much covers my payment each month. I prefer it this way because I own the vehicle out right after my 4-5 years of payments. They don't cover maintenance anymore due to a few bad apples ruining it for the entire sales team. I'm also able to put my annual property taxes and insurance on my expense reports.
Last edited by ecwooduck; 07-16-2019 at 07:35 AM.
"some men are mere hunters, others are turkey hunters"-Archibald Rutledge
Allowance. They offered to buy me a company vehicle but there were to many restrictions to make it attractive.
I’d somewhat disagree with Allowance being a benefit if losing your job comes into play.
Id think the smartest thing would be to have a company provided vehicle, enjoy the benefits of it, but also have a reliable paid off personal vehicle. If you lose your job you’re not continuing to pay for a vehicle that was needed for a job you no longer have.
Last edited by Duck cutter; 07-18-2019 at 08:59 AM.
I'm interested to hear of the options as well. Right now I am in a company supplied vehicle. I pay for the gas when using it for personal reasons and they pay the rest. My Owner has kicked around an allowance for us. Be great if anyone is willing to supply some figures of what is given as an allowance.
A vote is like a rifle: its usefulness depends upon the character of the user.
Theodore Roosevelt; 26th president of US (1858 - 1919)
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“A fear of weapons is a sign of retarded sexual and emotional maturity” Sigmund Freud
We offer both.
Im in a company vehicle.
As long as I can get a truck, I will stay company vehicle.
A vote is like a rifle: its usefulness depends upon the character of the user.
Theodore Roosevelt; 26th president of US (1858 - 1919)
____________________________________________
“A fear of weapons is a sign of retarded sexual and emotional maturity” Sigmund Freud
I've done both, and it will depend on your companies policy, but currently I'm on an allowance with gas card. I'm responsible for all maintenance etc. I like it because I can drive what I want to. I've also had a company provided truck with gas card and the company paid for all the maintenance etc. This was good too, but I didn't get to choose the truck. It wasn't the end of the world, but my family outgrew that truck quickly.
A vote is like a rifle: its usefulness depends upon the character of the user.
Theodore Roosevelt; 26th president of US (1858 - 1919)
____________________________________________
“A fear of weapons is a sign of retarded sexual and emotional maturity” Sigmund Freud
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