Does the Tax Cuts and Jobs Act Affect Your Reimbursement?
By Ben Reiland, Motus
How Does the TCJA change old tax law?
Well, as we said in our previous blog on this topic, it doesn’t change a whole lot.
Effective January 1, 2018, an employee no longer has the ability to claim a business expense deduction for unreimbursed business expenses that exceed 2% of their adjusted gross income via Schedule A and Form 2106.
To put that into perspective, in 2016, over 5 million tax payers claimed mileage as unreimbursed business expenses. This amounted to $35 billion dollars in deductions. If you aren’t self-employed and you previously claimed your mileage as a business expense deduction on your taxes, unfortunately, you can’t do that anymore.
How does the TCJA directly impact you?
That depends on the reimbursement you’re currently receiving. Let’s look at an example: READ MORE
Study Says Self-Driving Cars Will Likely Lead to More Sex on the Road
Self-driving vehicles have been expected to bring all kinds of futuristic benefits, including smarter cities, safer streets and highways, helping travelers avoid driving when they're tired or unfamiliar with their travel destinations or local driving rules.
But some U.K. researchers have identified a potentially more risqué repercussion of the autonomous vehicle revolution: more sex in cars since no one has to be behind the wheel. "Such private (connected and autonomous vehicles) may also be put to commercial use, as it is just a small leap to imagine Amsterdam’s Red Light District ‘on the move'."
Read the article at USA Today.
Philippe Stolbowsky Joins the fleetcompetence Group
Due to the ongoing high demand for independent fleet consulting services, fleetcompetence is expanding its international team with the appointment of Philippe Stolbowsky.
During 2018, fleetcompetence has grown significantly, now comprising 55 national and international fleet experts around the globe. In order to keep pace with the growing demand for fleet consulting services, Philippe Stolbowsky will take over in a Partner role within the international team.
International Fleet Meeting 2019 in Geneva
The International Fleet Industry Meets at the Geneva International Motor Show -- March 6, 2019
For the sixth consecutive year, The International Fleet Meeting will take place within the Geneva International Motor Show. The meeting will feature expert industry speakers, an exciting panel discussion and a unique networking platform.
March 6, 2019, the second press day of the Geneva International Motor Show, is fully dedicated to fleet at the International Fleet Meeting, where 250 fleet managers from all over the world will meet ambassadors from the automotive, leasing and service industry. The organizers, fleetcompetence Group and the Swiss fleet magazine aboutFLEET, are offering a unique, English speaking platform.
Measures Approving Self-Driving Cars and Extending EV Tax Credits Presented to Lame Duck Congress
Transportation advocates are hoping a pair of measures that would allow automakers to sell more than 80,000 self-driving cars per year and extend tax credits for electric vehicles, will finally pass in the upcoming so-called lame duck session after a year-long wait.
General Motors Co., Nissan Motor Co. and Tesla Inc. have joined forces with environmental groups to form a new coalition that is pushing to remove a cap on a federal tax credit that provides up to $7,500 to buyers of electric cars.
Read the article at The Detroit News.
