Allowances

If your organization pays flat vehicle allowances, unnecessary taxes may be incurred by both your company and its employees.   By utilizing an IRS-approved vehicle reimbursement program from Runzheimer International, you can:

• Eliminate tax waste for your company and its employees
• Provide accurate, geographically-sensitive reimbursements to your drivers
• Reinvest tax savings in other areas of your company

IRS regulations require companies to pay taxes when providing employees flat allowances for business use of their personal vehicles.   Employees are then subject to federal, FICA, state, and local tax withholding as a result.   This unfortunately results in substantial “tax waste” for employers and employees alike.

However, with a simple change to The Runzheimer Plan, you can realize dramatic savings relating to your allowances that can positively impact your company and its employees. Learn how to replace your flat allowances with an IRS-approved solution that better suits your company's needs.