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If personal use of a company vehicle is allowed, then you are responsible to ensure company compliance with IRS regs and to avoid tax problems associated with unreported personal miles. The reason for this admonition is that more companies are being audited for inadequate recordkeeping of business use.
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Reducing fleet costs is a constant, never-ending struggle for all fleet managers, especially since every aspect of fleet management revolves around money. In lieu of requesting additional budget dollars, one course of action is to stop the waste of existing dollars.It is estimated that, on average, 5-10% of a fleet’s annual budgeted dollars are wasted.
Read More →NEW ORLEANS - The report found the New Orleans Aviation Board was not properly documenting take-home vehicle assignments or properly reporting it on employee W-2 forms.
Read More →CAPE CORAL, FL – Though 920 on-road vehicles were listed as insured, the take-home vehicle audit report revealed the combined total of all departmental vehicles only numbered 845, reported the Cape Coral Daily Breeze.
Read More →PHOENIX - Pent-up demand, reduced capacity, and shifts in the marketplace will "perfectly align" for automotive OEMs within the next five years, industry analyst and host of television's "Autoline Detroit" John McElroy told AFLA attendees.
Read More →Fleet Financials talked with a number of fleet managers to find out how they prepared for an audit, from collecting documentation to working with their fleet management company.
Read More →A newly released DOT audit report, ordered in the wake of GM’s ignition switch recalls, offers a disturbing assessment of NHTSA’s efforts to identify and investigate vehicle safety defects.
Read More →LAWRENCE, KS - A recently released audit report revealed all state travel and vehicle-related expenses have risen since the central motor pool was eliminated, according to the Lawrence Journal World & 6News.
Read More →RIVERSIDE, CA - The audit advises that the county could save an estimated $2.3 million by reducing the numbers of cars employees take home each night, better tracking county car use, and limiting the size of the fleet.
Read More →The City of Long Beach, Calif.’s auditor conducted an audit of the City Harbor Department’s fuel expenditures, finding that 97 percent of the Harbor Dept.’s fuel transactions have adequate controls.
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