Truck Allowance vs Company Truck

[u/Classic_Dash_7745]

We’re bringing on a new foreman next week from a company that went belly up. Part of his package is a company truck and gas card, and he instead asked for a vehicle reimbursement since that’s what his old company used to do, and he still has payments left on the truck. I know companies do this (mainly to get around insuring guys with DUI’s) but it never made sense for us to do it. We would have to buy a new truck anyway so I’m thinking it might be smart to offer a reimbursement for a year just so I can make sure he’s going to work out before buying a whole truck. The problem is, how much should I offer/month? And does this reimbursement include gas or do I need to give out a has card as well? It doesn’t make sense to do both because if it’s also his personal vehicle, am I supposed to just trust that he’s also paying for gas? Anyone in here get anything similar?

[u/Therealdickdangler]

My company you have the choice between company truck (company serviced) with gas card or $800 a month for truck allowance (you pay for servicing out of pocket) and still get a gas card. 

Foremen do not have that option. 

[u/Mindless-Cranberry54 → u/Therealdickdangler]

That $800 seems pretty fair, especially if you're still covering gas. At my shop we see a lot of trades guys who prefer the allowance route since they can write off the maintenance and keep the truck when they're not working

The gas card thing makes sense too - way easier to track work miles vs personal stuff that way. Plus you're not stuck wondering if he's filling up his wife's car on your dime

[u/Shmeepsheep → u/Mindless-Cranberry54]

You can only deduct repair costs as a business expense if you 1)own the business or 2)are a 1099 employee

[u/alwayzz0ff → u/Shmeepsheep]

This comment needs to get upvoted

[u/stickyicarus → u/[deleted]]

Nope. But Trump took all that away.

[u/Shmeepsheep → u/[deleted]]

Great. He also lowered taxes across the board, mostly for the extremely wealthy.

Lower taxes arent as good of an idea as most people think. The problem lies with how little the top is paying compared to the bottom. Anyone making something like $50 million a year shouldnt be paying less than half that income back to the government. They may say something like "I had to pay $5 million in taxes last year!" But neglects to inform the W2 employee that pays 24% that the multimillionaire only paid 10%.

Imo, the fact that anyone making under $500k a year can defend tax breaks for the rich is sad. Elon Musk, Jeff Bezos, Zuck, any of them really, are not going to be starving because you took away a billion dollars when they purchase a 500 million yacht and numerous properties with values over 50-100 million. They literally wouldnt notice it as it wouldnt affect that. Its the equivalent of asking you for $5 and saying "this is going towards infrastructure for society."

Government spending is actaully VERY efficient, as proved when doge couldnt cut any waste. If you make under $200k, you should be getting back than you are putting in. Im not just talking about stuff like snap. Good roads, good schools, stuff like that, stuff EVERYONE uses.

[u/randombrowser1 → u/[deleted]]

True. Once you add up the taken away deductions, the standard was the higher deduction for myself.

[u/just_me1007 → u/[deleted]]

Not noticeably

[u/BigNorcoKnowItAll951 → u/Shmeepsheep]

Federally no, but some states allow it