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Vehicle Reimbursement Programs

Explore Vehicle Program Options for Your Company

With the right vehicle program, companies can provide fair and accurate reimbursements to all employees, reduce tax waste, improve employee satisfaction, and meet IRS and labor law regulations.

Let's take a look at some popular vehicle reimbursement programs:

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Fixed and Variable Rate (FAVR)

Reimbursing tax-free for fixed and variable costs associated with driving for business. What’s more, FAVR is the only reimbursement method recommended by the IRS.

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Car Allowance

Reimbursing a monthly flat stipend for all mobile employees. However, because a car allowance isn’t attributed to mileage, it’s taxed as additional income, generating a lot of tax waste.

CPM

Cents Per Mile

Reimbursing at the IRS rate or a custom rate. Mileage fraud can be a large issue, as well as equity. Mileage reimbursement doesn't account for geographic cost differences.

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FAVR for the Financial Leader

Reduce Expense Waste

Car allowance, mileage reimbursement, and fleet programs often have expensive hidden costs you may not realize. Did you know a car allowance program creates an average of $2,712 annual tax waste per employee? Or that fleet programs cost about 30% more than FAVR.

FAVR is the fair and accurate business vehicle program option. Reimbursements using this approach factor the geographic cost differences for each employee’s location, have no tax waste and accurately reflect each employee’s business mileage.

Discover how The Flint Group attained 7-figure savings by implementing the right vehicle program.

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FAVR for the HR Leader

Attract & Retain Talent

The importance of flexibility to today’s employees extends beyond remote work strategies into freedom of choice when selecting the tools and equipment they use for work. This is especially true for vehicle selection, as many employees utilize their car for both business and personal use.

It's also crucial to implement fair and equitable policies that produce cost savings and increase efficiencies across your business. And as the workforce becomes increasingly mobile, it's important to evaluate the way you reimburse employees for their business mileage.

Download the guide below to learn how HR leaders can select the right mileage reimbursement policy for their business.

 

About Motus

Motus is the definitive expert in mobile workforce solutions. Its platform simplifies the reimbursement and management of vehicle and device costs through personalized calculations. Powered by an unmatched pool of data, refined over more than 80 years, and updated in real time, Motus is the platform of choice for top Fortune 500 companies and organizations committed to workplace agility.

Motus automotive data, captured and analyzed across the world’s largest retained pool of drivers, also underpins the annual Internal Revenue Service (IRS) business mileage standard, the amount an individual can deduct for business vehicle expenses.


See which vehicle reimbursement program makes sense for your company by taking the quiz! Click the button below.

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Is FAVR the Vehicle Program for Your Company?

Take the short quiz to find out!

 

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