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My boss just gave me a company car to use.

He told me to keep a record of the miles that I travel on company business.

He said that he would pay me mileage.

In other words, I pay for fuel to and from work, take the family out for dinner, go to the mall ect.....

What is your company's policy on company autos?

Thanks,
Glocker
 

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Its varies company to company but the arrangement you have described there is very common especially in industries where the car is considered a tool of trade ie reps, site staff, engineering etc.

The two main setups for company car are - fully expensed (they pay for fuel as well as services and tyres), and company use (they pay for services tyres etc. but pay a milage rate for work travel) you pick up the rest of the fuel tab.

Normally the milage rate will be setout ie 25c per mile. You always end up making money on it.
 

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lavudyar said:
The rate should be over 29¢/mi, my company pays 31¢/mi. IRS deduction is 29¢.
Yeah I have no idea what US rates would be.... The lowest I have seen is 12 pence (23 US cents) a mile in the UK and the highest $1.57 Australian ($1.20 US).
 

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The government amount is actually topped out at 49.5 cents and that is what my company pays. Any more than that and you pay taxes on it. Mileage pays good if you actually keep track of it. But how much they pay at your company will be set by them.
 

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I was going to say, the IRS amount is almost $.50 right now. My wifes company pays her at $.495 right now and for 600 miles a month we make enough to pay her car payment and the gas as well.
 
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