Quote:
Originally Posted by Ozy_Flame
Yeah, let's negate all the private sector perks that some higher-ups get there. The fact that Alderman are allowed to write off dry cleaning sure is a tragedy, isn't it?
Kinda funny how people in the oil industry get company cars and can write off gas fill ups and use it for their own personal benefit. And then I wonder why I pay so much in gas.
A suit is a requirement for business purposes, just as a "company car" is as well.
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If a person gets a company car they pay income tax on the yearly value of that vehicle (ie. the yearly leasing charge) as if it was income.
As for free gas... they have to keep a record of their personal mileage and their business mileage and they only can right off a percentage of the gas equal to the percentage of business mileage. Personal mileage consists of all miles the vehicle is driven after business hours or for personal errands during the business day and driving to and from work.