Salesmen and saleswomen have the ability to use their employer’s vehicles tax free, both at work and at home.
However, the exclusion comes with some pretty onerous requirements:
1.The salesman or saleswoman must be a full time employee
2.The car is used within 75 miles of the dealership
3.Family members cannot use the car
4.Cannot store personal items in the car
5.Cannot take the car on vacations
6.When outside work, you can drive it to/from home and work plus 10 extra miles per day
What is strange is that this exclusion is only available to the salespeople of the dealership and is not available for the mechanics, bookkeepers, or any part time salespeople.
If you need assistance with your taxes, give our office a call at 816-524-4949 or visit our website at Hoorfarlaw.com.