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What is Vehicle Reimbursement?

Vehicle reimbursement is the process whereby individual employees are reimbursed for driving expenses incurred for work purposes.

VEHICLE REIMBURSEMENT EXPENSE TYPES

There are two types of expenses taken into consideration when reimbursement is calculated: fixed expenses and variable expenses.

FIXED EXPENSES

Fixed expenses are comprised of the hard costs associated with acquiring a vehicle. These expenses include capital cost, depreciation, finance cost, insurance, license and taxes.

VARIABLE EXPENSES

This part of the reimbursement considers the cost of operating the vehicle. Variable expenses consist of fuel, maintenance and repair costs.

NOT ALL VEHICLE REIMBUSEMENT PLANS ARE EQUAL

There are many types of vehicle reimbursement programs but they’re not all IRS approved or non-taxable, accurately compensated or fair to different types of employees.

CarData provides accurate, IRS-compliant vehicle reimbursement programs that ensure complete accuracy for each driver’s reimbursement, backed by a dedicated support team – saving you time and money.

To learn more about CarData’s IRS compliant Vehicle Reimbursement Plans, please contact us by phone at 1-866-550-5188 or email info@cardataconsultants.com.

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What Our Clients Are Saying

At first, we were reluctant to move away from fleet management. We saw it as an integral part of our corporate culture and also thought of it as recruitment leverage. Unfortunately, after one of our vehicles was involved in a DUI it became clear that the program was simply too risky to maintain. CFO, Oil & Gas Business

Contact us for more information about how CarData can create an accurate, non-taxable VRP for your business.


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