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car allowance
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car allowance
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Looking for information on justification of a car allowance. I am the president of a small company, 100 employees I have in the past had a car, but when things got tuff, I voluntary gave it up. Bad
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car allowance

posted at 2/5/2009 10:04 AM EST
Posts: 1
First: 2/5/2009
Last: 2/5/2009
Looking for information on justification of a car allowance.
I am the president of a small company, 100 employees
I have in the past had a car, but when things got tuff, I voluntary gave it up.
Bad move, now things are moving along nicely and I want it back.
Our shareholder meeting is next week and I am putting it to a vote.
But need to justify, do I really need this perk, or do I just want it?
How much of a stink should I make.
Am I a whiner?
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car allowance

posted at 2/5/2009 10:56 AM EST
Posts: 3870
First: 2/12/2002
Last: 11/2/2009
The only way to really justify it is to demonstrate a benefit to the company. It's possible the benefit is part of a compensation package to keep their hotshot president happy and competitive, in which case your discussion of this might be better made with members of the board's compensation committee.

It's also possible that a car allowance in lieu of any and all reimbursements for use of your personal vehicle would save the company money (which would include your time in preparing expense reports and some clerks time processing them).
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car allowance

posted at 2/5/2009 12:19 PM EST
Posts: 2146
First: 2/15/2006
Last: 9/14/2011
What other perks do you have? How does this add into your whole compensation package? How does your compensation compare to people below you? Are you recommending benefit/pay/hours cuts for any of those 100 employees?

Is this a publicly owned company or private?

How much driving do you do for company business? At our company almost 1/2 the employees have company cars, but the President/CEO doesn't.

If you can justify the need vs want, then I say go for it. But if it is just another want, I would not do so in this economy.
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Forums » Topic Forums » Benefits & Compensation » car allowance

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