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Car Allowance Vehicle Programs

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CAR ALLOWANCE

A simple, one-size-fits-all approach that puts more money in your employees' pockets

What is car allowance

What is a car allowance?

With a car allowance program, employees receive a set monthly allowance to offset their business-related driving costs. A car allowance program is simple, but the greatest disadvantage is that the program is taxable and does not account for:

  • Fuel costs
  • Taxes
  • Insurance premiums
Allowance Payment
Allowance Tax Waste Example
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Advancing your car allowance

Advancing Your Allowance Program

Runzheimer can eliminate tax waste associated with car allowance programs by substantiating business miles. Equo® Mileage Capture will let you take advantage of tax-saving benefits with automated mileage tracking.

Moving from an allowance program to an accountable program will allow for:

  • Reduced tax liability
  • Seamless program management
  • IRS-compliant mileage substantiation

By reducing taxability of the allowance, your employees receive a higher payment each month.

Calculate Your Tax Waste

Take the allowance assessment to estimate your tax waste or contact us to evaluate the best approach.

Going Beyond

Mileage capture is vital to the accountability of any business vehicle program. Equo Mileage Capture automates mileage tracking, also ensuring participants submit IRS-complaint mileage logs. Additional solutions include:

Going Beyond Insights