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Car Allowance Claim Form DOC

Car Allowance Claim Form DOC

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[Music] you're right because it's the irs right they want substantiation um and so we have all the data to actually show that this is true expense reimbursement they have a couple of rules around that piece as well one of those is that they have to be a true business driver and they have to drive a minimum of five thousand business miles per year as well as um we have to verify that they have insurance and that it's at the right level because that is included within the reimbursement on the fixed side um and then the other piece is um vehicle age again you as a company can decide on what you would want to set that as um and then the mrrsp because that's also built into the fixed portion um so those are the components that go in from an irs perspective i always like to frame it that you know an easy way to think about how can this be tax free as opposed to a typical car loans if you think about a car allowance right there's no reasoning behind it it's just a random number so that's why

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