FAVR: The Flexible Approach to Vehicle Reimbursement
The IRS Fixed and Variable Rate (FAVR) methodology is a highly customizable, tax-free program using five key cost components that can be configured to accurately reimburse drivers, optimize spend & capital outlay and improve employee satisfaction.
Here’s how a fixed and variable rate (FAVR) vehicle program supports your employees and business:
- Eliminates tracking and managing mileage logs and fuel cards
- Provides reimbursements that reflect all cost components of driving
- Reduces administrative burden and improves scalability
- FAVR meets IRS requirements for tax-free reimbursements
- Maintains complete control over program design
Ready to bring your vehicle program into the 21st century? Fill out the form to discover how FAVR will help your employees and business thrive!
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Fixed and Variable Rate Mileage Reimbursement Program Explained:
Motus is great for companies that...
- Have 10 or more employees that drive for business purposes
- Are based in the U.S. and/or Canada
- Want to simplify the management of their vehicle program(s) and cut down on administrative tasks
- Wish to strengthen their vehicle program by ensuring IRS compliance
- Are trying to find areas that reduce costs with little to no impact to employees
About Motus
Motus is the leading expert in vehicle reimbursement and driver risk mitigation, offering proven and secure solutions for every driver that simplify the reimbursement of driving costs and reduce corporate risk exposure. With an unmatched pool of data refined over more than 80 years, Motus is the preferred partner to top Fortune 500 companies and organizations committed to workplace agility. For more information, please visit www.motus.com or connect with us on X, Facebook, Instagram or LinkedIn.