Motus Articles

Partnering With Motus - Car Allowance

Issue link: https://resources.motus.com/i/1251525

Contents of this Issue

Navigation

Page 0 of 1

HOW OUR PROGRAM WORKS WHEN IT'S A GOOD FIT Effective expense management programs are crucial for any company, regardless of its size or industry. But when companies evaluate their expense management, they often overlook vehicle reimbursement. And accurate vehicle reimbursement programs are essential to companies with mobile employees. They represent one of the largest reimbursable expenses for an organization. Hundreds of companies rely on Motus provided vehicle reimbursement programs to deliver cost control, drive field-level efficiencies and ensure company and IRS-compliance. Our reimbursement program leverages the IRS' fixed and variable rate (FAVR) methodology to calculate tax-free vehicle reimbursements for mobile employees. FAVR reimbursements provide customized fixed and variable payments based on where employees live and the business mileage they drive. Fixed payments cover annual expenses, such as car insurance, taxes, depreciation and license and registration fees. Variable payments cover mileage- based costs that change each month, such as gas, oil, maintenance and tire wear. We calculate these costs for each employee and provide a mobile mileage capture app to drive field efficiencies and ensure accurate and IRS-compliant mileage reporting each month. Whether it's a handful of drivers or a mobile workforce of hundreds, our FAVR program is a perfect fit for companies that have employees who drive at least 5,000 business miles a year. PARTNERING WITH MOTUS Hundreds of companies rely on Motus provided vehicle reimbursement programs to deliver cost control, drive field- level efficiencies and ensure company and IRS-compliance. Insurance License & Registration Fees Taxes Depreciation Fixed Costs Variable Costs Fuel Oil Maintenance Tires

Articles in this issue

Archives of this issue

view archives of Motus Articles - Partnering With Motus - Car Allowance