Publication 15-B (2025), Employer's Tax Guide to Fringe Benefits
If you use your car exclusively in your business, you can deduct car expenses. If you use your car for both business and personal purposes, you must divide your expenses based on actual …
What Is a Fringe Benefit? A fringe benefit is a form of pay (including property, services, cash or cash equivalent) in addition to stated pay for the performance of services. Under Internal …
Employer-provided and company-owned vehicles - The Tax Adviser
Nov 1, 2022 · General or special methods of valuing employer-provided vehicles are available for determining the employer’s and employee’s tax treatment of this fringe benefit.
1. Fringe Benefit Overview. A fringe benefit is a form of pay for the performance of services. For example, you provide an employee with a fringe benefit when you allow the employee to use a …
IRS Taxable Fringe Benefits for a Company Car - Chron.com
In most cases, time spent using your company car for personal use is considered a taxable fringe benefit, and if your small business pays you a salary, you would owe tax on the financial...
A Company Car Is a Valuable Perk, but Don’t Forget About Taxes
Despite the necessary valuation and paperwork, a company-provided car is still a valuable fringe benefit for business owners and key employees. It can provide them with the use of a vehicle …
Personal Use of Company Car (PUCC) | Tax Rules and Reporting
Dec 30, 2024 · Personal use of a company car (PUCC) is when an employee uses a company vehicle for personal reasons. Driving a company vehicle for personal use is a taxable noncash …
Fringe Benefits: Avoid Common Reporting Errors
Jan 14, 2025 · Any personal use of a company car— such as commuting between home and work, running personal errands, or using the vehicle on weekends—is considered a taxable …
Providing a company car? Here’s how taxes are handled
Feb 1, 2022 · Despite the necessary valuation and paperwork, a company-provided car is still a valuable fringe benefit for business owners and key employees. It can provide them with the …
What Are Fringe Benefits? How They Work and Types - Investopedia
Feb 28, 2025 · Fringe benefits are additions to compensation that employers offer workers to recruit, motivate, and retain high-quality talent. Examples include a company car, paid time off, …