A company car has long been a popular fringe benefit for company owners and key employees of medium-size or small businesses. This benefit yields substantial nontax as well as tax benefits for owners or employees, as well as tax deductions for the employers. What’s more, recent tax law changes and IRS liberalizations make the deal better than ever before. Contact us to learn more about the tax consequences of personal use of a company auto, as well as the various methods of valuing personal use.
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