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User Panel
User Panel
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Posted: 2/24/2016 2:05:58 PM EDT
[#1]
Usually a car allowance is just the cost of the car.
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Posted: 2/24/2016 2:07:30 PM EDT
[#2]
Usually does not include fuel.
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Posted: 2/24/2016 2:08:46 PM EDT
[#3]
Usually just the car and any required insurance unless they specifically cover it.
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Posted: 2/24/2016 2:11:50 PM EDT
[#4]
Get an electric car, and charge it at work.
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Posted: 2/24/2016 2:13:05 PM EDT
[#5]
My neighbor has an "allowance" from his company. I think it's $400. They tell him he can do whatever he wants with it. He's expected to use his personal vehicle daily for traveling around the Metroplex
Drive a paid off 4-banger that's good on gas and might end up with some extra money each month out of the deal. Drive a $60k F150 and they'll make the first $400 towards your payment each month. Insurance, gas, bro tires & lift are on you. |
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Posted: 2/24/2016 2:13:53 PM EDT
[#6]
In my experience, company cars usually come with fleet cards - car allowance just means money towards car payment.
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Posted: 2/24/2016 2:15:37 PM EDT
[#7]
My last employer paid me an allowance that was for their use of my POV. They also paid for the fuel.
My current employer gave me a credit card that I can use at my discretion; so if I use my POV for company biz, I can gas it from the card. |
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Posted: 2/24/2016 2:22:40 PM EDT
[#8]
Say "no" to the allowance. Take the tax deduction yourself.
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Posted: 2/24/2016 2:29:13 PM EDT
[#9]
mine does not include fuel.
depending on the company and allowance amount some include fuel with it. |
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Posted: 2/24/2016 2:30:42 PM EDT
[#10]
Quote HistoryQuoted:
Say "no" to the allowance. Take the tax deduction yourself. ?? why say no to money? He can still take a deduction for mileage over the allowance amount. |
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Posted: 2/24/2016 2:33:08 PM EDT
[#11]
Quoted:
does that allowance usually cover fuel? Or do I need to ask for a gas card in my negotiations? fuel is separate. you will pay taxes on your vehicle allowance check, just FYI |
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Posted: 2/24/2016 2:56:09 PM EDT
[#12]
My company pays car allowance plus cents per mile for everything else.
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Posted: 2/24/2016 3:09:16 PM EDT
[#13]
Construction superintendent here. I get $100 a week plus fuel. I use fuel for personal use too as long as it's within reason.
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Posted: 2/24/2016 3:44:25 PM EDT
[#14]
An allowance is just that, money to you to offset whatever you spend for business travel on your car. Depending on how much business driving you do, it can be worth it or you may be taking a loss, unless you itemize on your taxes for the amount over the allowance.
The company gets an advantage as they deduct the allowance as an expense and you pay taxes on it because it will either be in your W-2 or 1099'd to you. If they just pay you the standard mileage money, you "should" pay taxes on it, but it won't be on your W-2 or 1099. 
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Posted: 2/24/2016 3:52:44 PM EDT
[#15]
OP you need to ask. It might include gas, or it might include the fuel-only expense rate which is like $0.10/mile vs. $0.50/mile. Could also be nothing.
Some companies also have requirements on what you drive if they are paying for it. My old company required a 4 door built in the US, which eliminates more than you think. |
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