Topics discussed includes if fleets should reevaluate their future vehicle cycling plans; the resolution of the unintended personal-use charge tax consequence on fleets in 2020; and how new accounting lease standards might impact future vehicle lifecycle trends.
The unintended tax consequences created by the pandemic that distorted personal use taxation of company drivers was successfully mitigated by the NAFA Fleet Management Association. Here’s the inside story of how it was accomplished.
The initiative that led to this notice from the IRS was spearheaded by members of NAFA, who sought to mitigate unintended tax consequences that the COVID-19 pandemic created for company drivers during the shelter-in-place mandates.
Consistent education and monitoring of driver behavior can help prevent potential liability issues.
Geotab will begin allowing fleet drivers to use a Privacy Mode feature with their telematics system to temporarily disable vehicle tracking when using vehicles on personal time, the Toronto-based telematics provider has announced.
AutoZone has reshaped the structure of its fleet by establishing a more varied asset portfolio and new policies.
A growing number of employees are using their company vehicles as a tool to generate supplemental personal income for themselves. Unscrupulous service technicians are known to use company vans to moonlight for their personal business. Fleet managers must be vigilant about the unauthorized use of corporate assets and aggressively implement preventive measures.
Many homeowners’ associations (HOAs) place restrictions on the parking rights of commercial vehicles. Here’s how fleet companies can help affected workers.
Fleets that are looking to create a solid safety policy should also consider implementing policies that support aspects of personal use.
A growing number of employees have been caught using their company vehicles as a tool to generate supplemental personal income for themselves.The fastest-growing trend in unauthorized usage of company vehicles is working as an Uber or Lyft driver. But using company vehicles to moonlight goes far beyond Uber and Lyft.
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