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The new rates go into effect Jan. 1, 2013.
Read More →WASHINGTON - The new IRS mileage reimbursement rate reflects an increase of 1 cent, up from 55.5 cents per mile in 2011 and 2012.
Read More →Hyundai and Kia said procedural errors at the automakers’ joint testing operations in Korea led to incorrect fuel economy ratings.
Read More →STERLING, VA - On average, over-reporting of mileage ran at 24 percent throughout the study period.
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Two home healthcare providers implement ways to control fleet costs using their managed fleet programs, which would not have been possible under a reimbursement plan.
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Reimbursement doesn’t work from an HR or safety & liability perspective, is counter-productive to corporate ‘green’ initiatives, can negatively impact the company image, and FAVR reimbursement programs may not be SOX-compliant.
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Although in-house management of an executive fleet is extremely time-consuming, reimbursement is a less cost-effective alternative. I argue that, in general, a company-administered executive vehicle fleet is a better choice than reimbursement.
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Driver reimbursement continues to be the wrong choice for commercial fleets for a number of reasons, ranging from HR issues and corporate safety concerns, liability exposure and tax consequences to employees.
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Taking actual expenses could get you and your employees tax-free money.
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With a proper financial analysis and only minor changes to its current plan, this small fleet can save big bucks.
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