Lots of businesses are still relying on a flat-rate car allowance.

If you’re reading this and thinking “that’s us”, you’re likely wasting a considerable amount of money on taxes.

Flat-rate allowances are convenient, but they’re not very tax efficient or equitable.

The one-size-fits-all approach doesn’t account for regional variations in costs like gas, insurance, or maintenance.

Even worse — allowance is fully taxable.

If you give your employees $600 as an allowance, they may only see around $420 after taxes.

That’s a loss of 30% right off the top—money that could be better utilized elsewhere.

A Tax-Free Car Allowance (TFCA), on the other hand, uses accurate mileage tracking, and works within the parameters set by the IRS, so it's completely tax-free!

As a result, your mobile employees can cover their actual vehicle expenses without worry of coming up short.

A Tax-Free Car Allowance is a straightforward way to end money waste, maximize your budget, and maintain a happy staff.

#TFCA #AccountableAllowance #TaxEfficiency #Cardata