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re: How much should a company truck affect your salary?
Posted on 9/26/23 at 7:13 am to Odysseus32
Posted on 9/26/23 at 7:13 am to Odysseus32
Are you guys considering your commute "personal use"?
Because I don't use my company truck for personal use, but I do use it for my commute.
I consider not having to use my personal vehicle or pay for gas for my commute a very large perk.
I assume this is what most people consider a "company truck"
Because I don't use my company truck for personal use, but I do use it for my commute.
I consider not having to use my personal vehicle or pay for gas for my commute a very large perk.
I assume this is what most people consider a "company truck"
This post was edited on 9/26/23 at 7:14 am
Posted on 9/26/23 at 7:16 am to Salmon
Is your commute home to office or is it to the field?
Posted on 9/26/23 at 7:19 am to Salmon
(no message)
This post was edited on 3/14/24 at 9:47 am
Posted on 9/26/23 at 7:55 am to Salmon
quote:
Are you guys considering your commute "personal use"?
Because I don't use my company truck for personal use, but I do use it for my commute.
I consider not having to use my personal vehicle or pay for gas for my commute a very large perk.
I assume this is what most people consider a "company truck"
Having a vehicle for your daily commute is a benefit for sure. The question is how much that’s worth. It’s not $0 but it’s also probably not the full lease value of the vehicle + gas.
To me it largely depends on what the policy is on personal use. If the company allows full personal use (meaning free to use however you want, beyond just your daily commute) then there is a lot more value than there would be with a company that strictly forbids using the vehicle for, say, vacations/trips.
Posted on 9/26/23 at 8:48 am to Salmon
quote:
Are you guys considering your commute "personal use"? Because I don't use my company truck for personal use, but I do use it for my commute.
Commuting is personal use, as far as the IRS is concerned. Would be considered mileage used in calculating personal use of an employee vehicle at year end, assuming they are paying for the fuel.
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