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Employer provided vehicles

2019 – 05/09 In Notice 2019-34, the IRS has provided the maximum value of an employer-provided vehicle, first made available to employees for personal use in calendar year 2019, for which the vehicle cents-per-mile valuation rule or the fleet-average valuation rule may be applied. The maximum 2019 value is $50,400. The Tax Cuts and Jobs Act significantly increased the maximum dollar limitations on the depreciation deductions for passenger automobiles and also changed the way that inflation increases are calculated. To read the Notice: https://bit.ly/2VdEkkC

©2019 Bland Garvey CPA