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When a company adopts a driver reimbursement program, it shifts all costs to the employee. The problem, from a tax view-point, is that if not handled correctly, reimbursement payments to employees can be considered taxable income by the federal government and some states. For instance, a monthly vehicle allowance is taxable to the employee, and the company is subject to its portion of FICA tax. The net result is that the employee’s combined state and federal tax burden will increase, which, in t
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A balanced remarketing plan features multiple disposal channels — not solely auctions. Don't overlook direct sales to local, and not so local, dealers.
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In public sector fleet operations, the number-one cause of overloading is when a vehicle is not used for the spec’ed application. In other situations, overloading is intentional, as is sometimes the case with garbage trucks. In these instances, drivers overload vehicles to minimize the number of runs needed to offload the collected garbage. Overloading also occurs due to operator ignorance. For example, as parks and rec-reation truck may be spec’ed to haul a certain volume of grass cuttings, but
Read More →Businesses are increasingly talking measures, including data encryption, user passwords, and updated antivirus software, to improve Internet security and prevent identity theft and online corporate intrusion.
Read More →Technological Solutions are dramatically improving driver/employee remarketing results. A Driveitaway-LeasePlan USA partnership finds tha clients can sell 40-45 percent of fleet vehicles with gains of $500-$900 per unit.
Read More →Data is becoming critically important in decision-making throughout the remarketing process, especially in a 24/7 cycle. Also, resale values are projected to increase as vehicles contain more content than in the past.
Read More →These include increased Internet-enabled real-time communications, new technology applications, increased cost of replacement parts, and, perhaps most importantly, a growing shift toward focusing on driver risk management.
Read More →With rising incentives becoming the trend, used-vehicle prices are determined by used-vehicle supply, wage growth to predict consumer demand, and net new-vehicle prices to forecast competitive vehicle demand.
Read More →Gary Anton of Illinois Tool Works knew that the comnpany's growing fleet contained a gold mine of hidden savings; he also knew that pulling together the purchases of dozens of operating units wold not be an easy task.
Read More →The National Association of Fleet Resale Dealers (NAFRD) asked its members to report on key benchmarks in its annual appraisal of the state of fleet vehicle remarketing. Here are the results.
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