Any tax law gurus out there that know where I can find info on how they tax the fringe benefit of a company auto. I am on call 24/7 365 days (part of being the boss :'()and am hoping for a break on taxes on this. I have tried looking on the IRS website and calling them but what a run around.
Thanks in advance for any help.

 

Is the company you work for deeming the use of the company vehicle as part of your wages?? If not you do not pay taxes on the use of the company vehicle when it is used in the duties of your job.Be it 24 hr on call or not. If you want IRS publications reference numbers you will have to call IRS back as I cannot get to them presently as I am away for tht holidays. Goodluck Rick

 

I have a company vehicle that I drive for/to and from work. I do not pay tax on this as part of my duties are to leave directly from home to the job site and from the site to home. (tax loop hole?) This was a decision made above me and there are no deductions from my pay that I have to claim later.

Keep in mind American tax laws don't apply to me... I'm in Canada eh!

 

I had an unmarked patrol car that I took home 24/7. As the Police Chief I was required to be available 24/7 and also required to drive my vanilla Taurus whenever I was alone and moving about the City during my "off" times. I was not permitted to carry civillian passengers unless it was an emergency or in the course of my duties. I was able to use the car for personal errands, however I was always armed and prepared to respond if needed. In that case I was advised that there was no tax burden. My understanding is, that if the vehicle is available for personal use while "off duty" from your job (on call only counts as " on duty" if you are restricted in your travels and activities while operating in the on-call status) then that percentage of time attributable to personal use is taxable. But, I would suggest you check with a tax lawyer.

 

I met w/ our auditors and cpa's and as long as I do not use for personal, I am not obligated to any tax issues. Turns out to be nice benefit just dont take advantage. Thanks for the replies.