Vehicle Allowance?

Open1

Open1 155 Posts

October 2005 in Compensation Vote Up0Vote Down

We've only done mileage reimbursement in the past, but now we have a new VP who wants a vehicle allowance. Is this taxable income (and the employee has to deduct it on their own tax return)?

Thanks!

Comments

2 Comments sorted by Votes Date Added
hhaynal 231 Posts

October 2005 PMVote Up0Vote Down

I believe it is reportable income.

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Open1 155 Posts

October 2005 PMVote Up0Vote Down

Thank you!

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