Should I use my personal vehicle for company use?

Answer 1

Whether compensated or not I would NEVER use my personal transportation for company use. Several reasons the first being that although I am compensated for the miles it's miles I am giving to the company and when the miles are used up...I have to replace that vehicle. Do the math...are you going to be compensated enough to replace this car? Second is your insurance coverage will more than likely NOT cover your car in the event you had an accident while on company business. Since you will be on the road more then your chances of being involved in that accident go up accordingly. Think about this...if the company had their own car then they'd be responsible for maintenance...insurance...liability...and cost of the vehicle....but instead they want to pay you what....75 cents a mile...or less? And they have none of the responsibilities. Good deal for the company...not so good for the employee....in my opinion.

Answer 2

Only if they compensate you VERY WELL for doing so!!
Using your vehicle for company use: Opens you up to increased liability. Increases your insurance premiums (You have to notify your insurance co. and pay extra in order to still be covered); It costs you in fuel and increased maintenance and repairs; It makes your car depreciate faster, by adding to the mileage and wear and tear; etc. etc. And I have never heard of a company that compensates their employees well enough to cover all these things....after all, that's why they want you to use your car...so THEY can save money. The so-many-cents per mile most companies offer is a joke...and is really just a reduction of your actual salary (Because the difference between what they pay you to use your car and what it actually costs are paid out of your pocket).

Answer 3

No. it fairly works out an identical. in case you make the main of your very own motor vehicle for artwork, submit value comments and reimburse your self on the common mileage fee. in case you as a exchange have the corporation purchase the motor vehicle, you're able to do the choice calculation and allocate the private use as income in your self (completely project to fica/mc, taxes etc). the main important trouble-loose way is to substantiate the each and each 3 hundred and sixty 5 days employ fee and use that.

Answer 4

no i wouldn't,because i did once to run an errand for a small company i worked for ,and i got in a fender bender,and the insurance i had wouldn't pay for the damage to either vehicles ,so i really wouldn't,if they want you to, then have them add you and the vehicle to there company insurance full time,and then see what the say about it,if there willing to do that ,yes you can use it,but you,ll have to charge them mileage or get a maintenance agreement with them one because it will cost you more to keep your vehicle up,good luck i hope this helps.

Answer 5

If your company authorizes you to use your vehicle for company use, they should reimburse you. The IRS allows your employer to deduct up to 48.5 cents per mile in reimbursements for use of your personal vehicle in 2007. (Last year, the rate was 44.5 cents per mile).

Answer 6

Depending if you own the company and also what are you using it for, then you should use your car. Otherwise, it might become complicated in terms of the law.

Answer 7

Is there any advantage to doing so?
Will you be compensated fairly if you do?
What alternatives are there to using your own vehicle?

Answer 8

Some companies will compensate you for it, if so then go for it.

Answer 9

Only if they're compensating you for mileage.

Answer 10

I dont see the reason why not...
Just make sure you have insurance