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Message
re: How much should a company truck affect your salary?
Posted on 9/26/23 at 11:58 am to NatalbanyTigerFan
Posted on 9/26/23 at 11:58 am to NatalbanyTigerFan
quote:
I was recently offered a position with a company that said a company truck was included in the deal if I chose to accept it.
I was told that the incentive of having a company truck was worth the same as being paid $10/hr more. I don't know if I'm convinced if that is completely accurate or not.
I've always had company vehicle and it was never mentioned as being part of my salary or affecting my salary.
Thoughts?
The first time I ever had a company truck the company took $.99 a week out of my salary for the truck. Supposedly an IRS issue. There was no limit on what I did with the truck, it was basically mine except I was the only one who could drive it. Never had another company do that, never really understood why they did it.
1
Posted on 9/26/23 at 12:21 pm to AwgustaDawg
quote:
Supposedly an IRS issue.
Not supposedly. Actually. The IRS defines personal use of company vehicles as a taxable benefit. Companies keep logs for a reason. They can write off miles related to company business. They can't write off personal use miles and commuting to and from work is considered personal use.
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