For those of yall who receive a stipend to drive your personal vehicle, how much is it? Is anything else included like a gas card or insurance, maintenance, etc?
mine is 1099NECMS08 said:
People commenting about their setup W-2s? And not 1099s?
MS08 said:
People commenting about their setup W-2s? And not 1099s?
It should unless you are getting a $ for $ reimbursement.TXAGBQ76 said:
Counts as income?
I used to think this.. then I got laid off and was left without a vehicle. For a family with a working spouse, that sucked.evestor1 said:
I have had the following:
2013 - 650 per month and fuel card
2015 - 1300 per month and fuel card
2016 - 1000 per month and fuel card
2017+ - company vehicle
I would choose company vehicle over truck pay all day. I'd have to get 1000 minimum to bother owing my own.
If you have an office job, you likely have little or no business mileage. Thus, the monies received as an "auto allowance" are income and should be reported to you that way by the company you work for.62strat said:I used to think this.. then I got laid off and was left without a vehicle. For a family with a working spouse, that sucked.evestor1 said:
I have had the following:
2013 - 650 per month and fuel card
2015 - 1300 per month and fuel card
2016 - 1000 per month and fuel card
2017+ - company vehicle
I would choose company vehicle over truck pay all day. I'd have to get 1000 minimum to bother owing my own.
Luckily my MIL had an extra vehicle, down in dallas, so I flew there (from denver), and drove it back up, kept it until I found a new job (almost 4 months), the one I have now. Then I bought my truck, and now I totally prefer to just get money for it and have my own vehicle.
I'm in a lucky position, working at a GC, the PMs are the ones who get the vehicle allowance for obvious reasons, but I'm an estimator (in other words - office job), and they offered it to me too.
I don't consider it 'income', other than paying for a vehicle. I have it direct deposit into a separate checking account that is only used to pay the note (which is 0%). When truck is paid off, it will just continue to grow into my next down payment.
i already mentioned above, I get a 1099NEC for the $9k a year.one safe place said:If you have an office job, you likely have little or no business mileage. Thus, the monies received as an "auto allowance" are income and should be reported to you that way by the company you work for.62strat said:I used to think this.. then I got laid off and was left without a vehicle. For a family with a working spouse, that sucked.evestor1 said:
I have had the following:
2013 - 650 per month and fuel card
2015 - 1300 per month and fuel card
2016 - 1000 per month and fuel card
2017+ - company vehicle
I would choose company vehicle over truck pay all day. I'd have to get 1000 minimum to bother owing my own.
Luckily my MIL had an extra vehicle, down in dallas, so I flew there (from denver), and drove it back up, kept it until I found a new job (almost 4 months), the one I have now. Then I bought my truck, and now I totally prefer to just get money for it and have my own vehicle.
I'm in a lucky position, working at a GC, the PMs are the ones who get the vehicle allowance for obvious reasons, but I'm an estimator (in other words - office job), and they offered it to me too.
I don't consider it 'income', other than paying for a vehicle. I have it direct deposit into a separate checking account that is only used to pay the note (which is 0%). When truck is paid off, it will just continue to grow into my next down payment.
correct.MS08 said:
So you are a W-2 employee but your vehicle stipend comes to you as a 1099 NEC?
Even worse when your kids get to driving age and you both have company cars...62strat said:I used to think this.. then I got laid off and was left without a vehicle. For a family with a working spouse, that sucked.evestor1 said:
I have had the following:
2013 - 650 per month and fuel card
2015 - 1300 per month and fuel card
2016 - 1000 per month and fuel card
2017+ - company vehicle
I would choose company vehicle over truck pay all day. I'd have to get 1000 minimum to bother owing my own.
Luckily my MIL had an extra vehicle, down in dallas, so I flew there (from denver), and drove it back up, kept it until I found a new job (almost 4 months), the one I have now. Then I bought my truck, and now I totally prefer to just get money for it and have my own vehicle.
I'm in a lucky position, working at a GC, the PMs are the ones who get the vehicle allowance for obvious reasons, but I'm an estimator (in other words - office job), and they offered it to me too.
I don't consider it 'income', other than paying for a vehicle. I have it direct deposit into a separate checking account that is only used to pay the note (which is 0%). When truck is paid off, it will just continue to grow into my next down payment.
I'm not in payroll, I'm just a lowly estimator.Ham Slice MRE said:
This is not being reported correctly. You should not be paying SE tax on that.
And yet you said you don't consider it income. As another poster said you shouldn't be paying SE tax on it. But quite a few companies do it wrong.62strat said:i already mentioned above, I get a 1099NEC for the $9k a year.one safe place said:If you have an office job, you likely have little or no business mileage. Thus, the monies received as an "auto allowance" are income and should be reported to you that way by the company you work for.62strat said:I used to think this.. then I got laid off and was left without a vehicle. For a family with a working spouse, that sucked.evestor1 said:
I have had the following:
2013 - 650 per month and fuel card
2015 - 1300 per month and fuel card
2016 - 1000 per month and fuel card
2017+ - company vehicle
I would choose company vehicle over truck pay all day. I'd have to get 1000 minimum to bother owing my own.
Luckily my MIL had an extra vehicle, down in dallas, so I flew there (from denver), and drove it back up, kept it until I found a new job (almost 4 months), the one I have now. Then I bought my truck, and now I totally prefer to just get money for it and have my own vehicle.
I'm in a lucky position, working at a GC, the PMs are the ones who get the vehicle allowance for obvious reasons, but I'm an estimator (in other words - office job), and they offered it to me too.
I don't consider it 'income', other than paying for a vehicle. I have it direct deposit into a separate checking account that is only used to pay the note (which is 0%). When truck is paid off, it will just continue to grow into my next down payment.
one safe place said:And yet you said you don't consider it income. As another poster said you shouldn't be paying SE tax on it. But quite a few companies do it wrong.62strat said:i already mentioned above, I get a 1099NEC for the $9k a year.one safe place said:If you have an office job, you likely have little or no business mileage. Thus, the monies received as an "auto allowance" are income and should be reported to you that way by the company you work for.62strat said:I used to think this.. then I got laid off and was left without a vehicle. For a family with a working spouse, that sucked.evestor1 said:
I have had the following:
2013 - 650 per month and fuel card
2015 - 1300 per month and fuel card
2016 - 1000 per month and fuel card
2017+ - company vehicle
I would choose company vehicle over truck pay all day. I'd have to get 1000 minimum to bother owing my own.
Luckily my MIL had an extra vehicle, down in dallas, so I flew there (from denver), and drove it back up, kept it until I found a new job (almost 4 months), the one I have now. Then I bought my truck, and now I totally prefer to just get money for it and have my own vehicle.
I'm in a lucky position, working at a GC, the PMs are the ones who get the vehicle allowance for obvious reasons, but I'm an estimator (in other words - office job), and they offered it to me too.
I don't consider it 'income', other than paying for a vehicle. I have it direct deposit into a separate checking account that is only used to pay the note (which is 0%). When truck is paid off, it will just continue to grow into my next down payment.
I have no comment on how you treat it in your own mind or budget, or what you use it for, only saying that it is taxable income and (due to an employer error) it is also subject to self-employment tax.62strat said:one safe place said:And yet you said you don't consider it income. As another poster said you shouldn't be paying SE tax on it. But quite a few companies do it wrong.62strat said:i already mentioned above, I get a 1099NEC for the $9k a year.one safe place said:If you have an office job, you likely have little or no business mileage. Thus, the monies received as an "auto allowance" are income and should be reported to you that way by the company you work for.62strat said:I used to think this.. then I got laid off and was left without a vehicle. For a family with a working spouse, that sucked.evestor1 said:
I have had the following:
2013 - 650 per month and fuel card
2015 - 1300 per month and fuel card
2016 - 1000 per month and fuel card
2017+ - company vehicle
I would choose company vehicle over truck pay all day. I'd have to get 1000 minimum to bother owing my own.
Luckily my MIL had an extra vehicle, down in dallas, so I flew there (from denver), and drove it back up, kept it until I found a new job (almost 4 months), the one I have now. Then I bought my truck, and now I totally prefer to just get money for it and have my own vehicle.
I'm in a lucky position, working at a GC, the PMs are the ones who get the vehicle allowance for obvious reasons, but I'm an estimator (in other words - office job), and they offered it to me too.
I don't consider it 'income', other than paying for a vehicle. I have it direct deposit into a separate checking account that is only used to pay the note (which is 0%). When truck is paid off, it will just continue to grow into my next down payment.
How it's paid to me has nothing to do with how I treat it and how I chose to spend it. I'm not defining it for you, I'm telling you how I treat it.
I don't consider it as income = I don't mix it with my salary money and consider it as part of my budget.
It pays for my vehicle, and when vehicle is paid off, it will continue to deposit in its own account and grow. I will never think of it as an extra $750 I can use for spending. That's my personal consideration of it.
who said I wasn't paying taxes on it?one safe place said:I have no comment on how you treat it in your own mind or budget, or what you use it for, only saying that it is taxable income and (due to an employer error) it is also subject to self-employment tax.62strat said:one safe place said:And yet you said you don't consider it income. As another poster said you shouldn't be paying SE tax on it. But quite a few companies do it wrong.62strat said:i already mentioned above, I get a 1099NEC for the $9k a year.one safe place said:If you have an office job, you likely have little or no business mileage. Thus, the monies received as an "auto allowance" are income and should be reported to you that way by the company you work for.62strat said:I used to think this.. then I got laid off and was left without a vehicle. For a family with a working spouse, that sucked.evestor1 said:
I have had the following:
2013 - 650 per month and fuel card
2015 - 1300 per month and fuel card
2016 - 1000 per month and fuel card
2017+ - company vehicle
I would choose company vehicle over truck pay all day. I'd have to get 1000 minimum to bother owing my own.
Luckily my MIL had an extra vehicle, down in dallas, so I flew there (from denver), and drove it back up, kept it until I found a new job (almost 4 months), the one I have now. Then I bought my truck, and now I totally prefer to just get money for it and have my own vehicle.
I'm in a lucky position, working at a GC, the PMs are the ones who get the vehicle allowance for obvious reasons, but I'm an estimator (in other words - office job), and they offered it to me too.
I don't consider it 'income', other than paying for a vehicle. I have it direct deposit into a separate checking account that is only used to pay the note (which is 0%). When truck is paid off, it will just continue to grow into my next down payment.
How it's paid to me has nothing to do with how I treat it and how I chose to spend it. I'm not defining it for you, I'm telling you how I treat it.
I don't consider it as income = I don't mix it with my salary money and consider it as part of my budget.
It pays for my vehicle, and when vehicle is paid off, it will continue to deposit in its own account and grow. I will never think of it as an extra $750 I can use for spending. That's my personal consideration of it.