Does anyone have a car allowance for work?

[shrubber]

How due they work? Are you given a seperate monthly check?
Is the car insured under your name or the companies?
Thanks

 

[JKMastalski]

My DH does. He uses his own car and keeps track of the mileage every single day. He gets paid .41 cents per mile. They give him a check every week for this. No taxes are taken out or anything. Its great extra money for us , because his mileage is sometimes 200 miles per DAY! Plus the car is a clunker, so we don't care about putting miles on, etc.

 

[Bob NC]

My DH does. He uses his own car and keeps track of the mileage every single day. He gets paid .41 cents per mile.

This is not a car allowance. This is an example of being paid "mileage".

I receive a car "allowance" of $600 per month for however many miles I drive.

I get this on a separate check.

Whether you get an allowance or mileage, you still pay your own insurance, gas, upkeep, etc.

 

[WIcruizer]

I've had all three.

Company car- Company pays for insurance, car is in company's name.
Allowance or Mileage- Car is YOURS, in your name, you pay insurance. It usually is a separate check.

 

[momof3disneyholics]

I keep track of my mileage and submit a monthly expense report and get paid in a separate check once a month.

 

[stemikger]

I get $32 a day for taking my car to work. They pay me daily off the books. This is great because I only drive my car 7 miles each way. This usually comes to around $600 a month that I put right into my principal balance of my home so I should have it paid off in about 6 years.

Sweeeet!!!

 

[shrubber]

This is not a car allowance. This is an example of being paid "mileage".

I receive a car "allowance" of $600 per month for however many miles I drive.

I get this on a separate check.

Whether you get an allowance or mileage, you still pay your own insurance, gas, upkeep, etc.

Really, $600 a month?
What do you drive? at $7200 a year that could be a nice ride!

 

[tar heel]

My dh has an auto allowance. Not only are we responsible for insurance and upkeep, but we have to give our insurance policy to the company to show that we are paying the higher premium for using a car for work. He is taxed on part of the allowance, but sometimes gets some of that back on a later check based on what his acutal mileage was. He also is required to keep mileage records. It's very complicated and his employer now pays straight mileage to newer hires, but people who have been there a while could choose to keep the allowance.

 

[cepmom]

DH only gets paid for the mileage on his truck. The truck is ours ~ we make the payments and pay the insurance. For those of you that get mileage only, are you able to deduct expenses (like maintenance, insurance etc) on the car on your tax returns for work related expenses? Does anyone kow how that works?

The next time DH needs a truck, he may get the company to buy it. (it's a small family owned company) Any advantages or disadvantages to this? Would an allowance be a better idea than having the compnay own the truck?

 

[mudnuri]

I had mileage- 0.485 per mile

If you own the vehicle, and own the company- you can claim either a mileage based deduction or an itemized deduction. I've never heard of you being able to claim anything if you don't own the company. By this I mean- the vehicle is in your personal name, not the companies, but used for company purpose. My X had a truck, in his name, that was used by the company, (he was a partner) he did the mileage deduction...

Brandy

 

[Bob NC]

Really, $600 a month?
What do you drive? at $7200 a year that could be a nice ride!

LOL....Some months it barely covers my gas.

 

[Zurealsoon]

My DH gets $700 a month plus all his gas for work is paid for by company(he averages 40,000 miles a year-so the gas comes to $3-400 a month)-the gas goes on his monthly expense report, along with cell phone, fax line, lunch on the road, copies,UPS etc-he recieves his expense $$ 2 weeks later.

 

[powellrj]

I've had all three.

Company car- Company pays for insurance, car is in company's name.
Allowance or Mileage- Car is YOURS, in your name, you pay insurance. It usually is a separate check.

I have had all three also. I prefer the company car. I am now on Allowance. I hate it. They tell us how much our car has to retail for, how many miles it can have on it, how much insurance we have to carry and what year the car can be. The amount we recieve is no where near what it takes to cover 75% of these cost. (they assume you will use the car 25% for personal use)

In the good ole days, you could pick a company car from the book ( I usually went with a Camry) or you could take a flat car allowance of $600 a month and drive what you wanted and both options came with an unlimited gas card.

Those days are gone and now you can only get the car allowance which is 1/2 of what it use to be, we have to have newer cars, less milage on them, more insurance and our gas card has a limit which usually only last for 3 weeks before it runs out. We also drive double the miles we use to.

We get a check from the company that monitors the cars twice a month. DH works for a different company but has the same car company and he gets his check once a month.

We are at a crossroad as to what to do this year. His car will be out of compliance next month, but mine has another year. We can flip-flop our cars, but we use mine for the family car and I have a nicer car. I don't want to use DHs car as our family car because its not as nice, and he doesn't keep his as clean as mine. His is usually so full of signs and displays that nobody can ride in it. I just really hate to buy another car.

 

[Kahana-ri]

I only get reimbursed for mileage. Its a nice check to get every month. Nov & Dec mileage checks will be spending money for WDW this year.