Take a Modern Approach to an Old Problem
The problem with traditional vehicle programs is that they can increase risk and expense for the business, create tax waste, and often result in overpaying or underpaying drivers. The business becomes responsible for personal mileage and liability during personal time. We take a different approach. By thoroughly considering actual expenses, we design and support vehicle reimbursement programs that produce a fair, accurate and transparent reimbursement model.
We’ll develop a non-taxable program tailored to your company and in compliance with Internal Revenue Service (IRS) and Canadian Revenue Agency (CRA) guidelines. We start with one of two foundational approaches, each backed by our Platinum Service team.
- Fixed and Variable Rate Plan (FAVR) – Reimbursement calculated based on recurring, fixed expenses plus cents-per-mile variable expenses
- Accountable Plan 463 – Total monthly reimbursements are summed and compared to the IRS standard mileage rate, with refund or payment based according to the difference
Interested in seeing how CarData could transform your vehicle reimbursement program?
Vehicle Reimbursement Program Solutions Your Organization Will Love
We are a VRP business, you shouldn’t have to be. From initial launch and transition to technical and personal support, our Platinum Service team – with dedicated customer service representatives directly available – will field every question and handle every detail.
“The online application is simple to use, and our employees love being able to have access through their mobile devices. This technology has made a big difference in terms of compliance. Employee buy-in was almost seamless, which in our industry is worth its weight in gold! Continue reading “Testimonial – Modern Technology” »
- Benefits Director, Beauty Industry
“Placing our vehicle reimbursement program into the hands of CarData was one of the best decisions for our company. The modern technology and easy-to-use system that they offer is second to none. Continue reading “Testimonial – Driver Benefits” »
- Director Purchasing, Chemical Company
“Prior to switching to CarData for our vehicle reimbursement plan, we managed an in-house fleet program. However the practicality of the program began a steady decline not long ago, both in terms of costing and resource allocation. Continue reading “Testimonial – Company Car Fleet” »
- VP Human Resources, Housing Industry
“Our company cars were costing us too much and they were getting older. We wanted a plan that was industry competitive and that produced some cost savings. Continue reading “Chief Financial Officer – Resource Industry” »
- Chief Financial Officer, Food Industry
“The vehicle reimbursement program we were using had our people moving in and out of compliance with IRS rules. Continue reading “Vice President Human Resources – Fortune 500 Company” »