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https://www.thebalancesmb.com/leasing-a-company-car-for-business-use-3961454
https://www.aldautomotive.in/mobility-blog/articles/why-a-salary-packaged-corporate-car-lease-policy-is-a-business-imperative
A corporate car lease policy that enables employees with a salary linked company car, brings the organisation numerous immediate and long-term benefits. Salary packaged cars provided by employers are usually tax-efficient for employees and unburden them from considerations like a large down payment or even the worries of vehicle maintenance.
https://www.eidebailly.com/insights/articles/2018/1/personal-use-of-company-vehicle
The vehicle is owned or leased by you and provided to your employee for use in conjunction with your business. You require your employee to commute to and/or from work. You have a written policy prohibiting your employee (and their …
https://www.nav.com/blog/how-to-lease-a-car-through-your-business-34086/
The interest rate is also known as the “money factor” in a lease agreement. Look for this number to be a value that, when multiplied by 2,400 …
https://www.milecatcher.com/post/big-vehicle-deductions-for-c-corporation-employees
A new BMW is a nifty perk for a corporate employee — especially if she can drive it to impress her friends off-hours. The corporation can deduct all of the BMW costs. The tax catch is that the value of the personal use portion is taxable to the employee. So, a mileage log must be kept showing the breakdown of business/personal miles driven.
https://www.thebalancesmb.com/who-should-own-a-business-car-the-company-or-the-employee-398671
Insurance for a company-owned car may be cheaper than for an employee-owned vehicle since businesses can get leased-car and multiple-car rates and other discounts. If a company-owned car is involved in an accident, the driver's personal insurance rates and liability are minimized, especially when drive other car insurance is added for the employee.
https://www.fool.com/the-blueprint/car-lease-tax-write-off/
The business deduction is three-quarters of your actual costs, or $6,000 ($8,000 × 0.75). 2. Standard mileage rate. More simply, you can take a …
https://www.bdo.com/insights/tax/compensation-benefits/taxation-of-employees%E2%80%99-personal-use-of-company-veh
On January 4, 2021, the IRS issued Notice 2021-7 permitting employers who rely on the “lease value” method to retroactively apply the “cents-per-mile” method for valuing an employee’s personal use of a company vehicle in 2020. Since COVID-19 caused many employees to work from home, they unexpectedly decreased their business use of company vehicles.
https://www.myknowledgebroker.com/blog/leasing-a-personal-vehicle-back-to-a-business
Bob even has a lease with Giovin that pays Bob for the use of that car. This seems like a great deal for Bob, and in the real world, this scenario happens fairly often. However, there is a serious coverage problem with this arrangement. Bob may not be covered personally if there is an accident. Here is an example of what might happen:
https://www.wilsonrogers.net/blog/2019/01/20/s-corp-automobile-deduction/
To deduct the expenses of a vehicle that is owed personally by the business owner, the S-Corp can reimburse the employee expenses under an accountable plan or a non-accountable plan. The expenses are deductible under either methodology, but the rules are different. Accountable Plan. When an accountable plan is used, the business only reimburses ...
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