Discussion:Employer Vehicle
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| Revision as of 15:36, 3 March 2008 JAY32 (Talk | contribs) (New Discussion) ← Previous diff |
Revision as of 18:08, 3 March 2008 RJM (Talk | contribs) (That's correct.) Next diff → |
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| Any guidance/clarification would be most helpful. Thanks! | Any guidance/clarification would be most helpful. Thanks! | ||
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| + | {{ForumReplyPost|UserID=RJM|Date=3 March 2008|Text=That's correct. 100% expenses are deductible. And credit the company's auto expense, or credit other income, with the personal use amounts, to offset the compensation debits.}} | ||
Revision as of 18:08, 3 March 2008
Discussion Forum Index --> Advanced Tax Questions --> Employer Vehicle
Discussion Forum Index --> Tax Questions --> Employer Vehicle
| 3 March 2008 | |
| Situation in which an employer owns a vehicle and provides it for the use of employees. The company uses the auto lease value method to compute the personal use amount for the employees to report on their W-2 forms.
My questions relate to the employer - does the company expense all items related to the vehicle usage and depreciate at 100%, assuming that the ALV calculation takes care of the personal use portion by allocating it to compensation? Any guidance/clarification would be most helpful. Thanks! | |
| 3 March 2008 | |
| That's correct. 100% expenses are deductible. And credit the company's auto expense, or credit other income, with the personal use amounts, to offset the compensation debits. | |
