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re: How much should a company truck affect your salary?

Posted on 9/26/23 at 7:13 am to
Posted by Salmon
On the trails
Member since Feb 2008
83653 posts
Posted on 9/26/23 at 7:13 am to
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"
This post was edited on 9/26/23 at 7:14 am
Posted by Sao
East Texas Piney Woods
Member since Jun 2009
65974 posts
Posted on 9/26/23 at 7:16 am to

Is your commute home to office or is it to the field?
Posted by Odysseus32
Member since Dec 2009
7369 posts
Posted on 9/26/23 at 7:19 am to
(no message)
This post was edited on 3/14/24 at 9:47 am
Posted by lostinbr
Baton Rouge, LA
Member since Oct 2017
9675 posts
Posted on 9/26/23 at 7:55 am to
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 by GoCrazyAuburn
Member since Feb 2010
34963 posts
Posted on 9/26/23 at 8:48 am to
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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