Business and Personal Use Vehicles
There are several different ways for deducting expenses related to vehicles. For example, the employer could own the vehicle and deduct actual expenses. Alternatively, the employee could own the vehicle and receive reimbursement for business use through an accountable plan. Which is better—the employer owning the vehicle or the employee? In this webinar, we will discuss how to treat business and personal use vehicles and what can be deducted.
Upon completion of this course, you will be able to:
- Calculate the taxable income from the personal use of an employer-provided vehicle.
- Identify the benefits of an accountable plan.
- Identify the deductible expenses related to a vehicle.
Includes webinar recording, PowerPoint presentation and Q&A webinar transcript. CPE is issued after exam is successfully completed.
Laura Strombom, EA, MBA, NTPI Fellow