Employees who get car allowances through car allowance programs may apply their monthly reimbursement toward the vehicle of their liking. They just need to make sure that it complies with any guidelines or policies their employer may choose to establish.
What’s more, a good program is designed in accordance with the IRS revenue procedure, allowing the reimbursements to be paid tax-free. So, this is a great benefit to the drivers since it actually increases their net take-home amount! Great, isn’t it? So, be a smarter employee and be open to accepting a car allowance.
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