Utilize your car allowance to receive a great tax saving for your individual situation. Corporate Reimbursement Services, Inc. (CRS) is a management consulting firm that administers highly flexible and customizable vehicle reimbursement programs for companies with mobile employees.
The driver benefits:
Fairly and accurately reimburses the actual costs associated with the business use of the personal vehicle. For the drivers, they will be provided with a personalized Driver Reimbursement Schedule which lists every component used to calculate their individual reimbursement rate. For example, insurance premiums will vary town by town, and state by state.
Fixed And Variable Rates reimbursement or FAVR. Companies may use to calculate an individual reimbursement rate for each of their drivers, based on the expected costs for the business use of their personal vehicle. When an employer follows this method to calculate an individual reimbursement rate for each driver, the reimbursement may be paid 100% tax-free by the employer to the employee. It means greater savings for you and more money in the pockets of participating drivers.
Flexible options. You can choose from a limited selection of company provided vehicles, or choose to receive cash equivalent of the company provided vehicle, tax free, to apply forward the vehicle of your choice.