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An employer in the United States may provide transportation benefits to their employees that are tax free up to a certain limit. Under the U.S. Internal Revenue Code section 132(a), the qualified transportation benefits are one of the eight types of statutory employee benefits (also known as fringe benefits) that are excluded from gross income in calculating federal income tax.
A Qualified Employee Discount is defined in Section 132(c) as any employee discount with respect to qualified property or services to the extent the discount does not exceed (a) the gross profit percentage of the price at which the property is being offered by the employer to customers, in the case of property, or (b) 20% of the price offered for services by the employer to customers, in the ...
Other gas cards or gas rewards programs may offer rewards in the form of a discount on a single fill-up. This can deliver much more value to a car with a large gas tank than a smaller one.
The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C. § 162, for the business use of a vehicle. Under the law, the taxpayer for each year is generally ...
Corporate Credit Cards. Small Business Credit Cards. Availability. For larger, established businesses often with revenue of $1 million+. For small companies, sole proprietors, freelance workers ...
If your business has grown to the point where you have hundreds of employees to manage, you may want to consider a corporate credit card instead of the small-business cards you’ve used in the past.
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