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13 June, 19:25

Judi Pendergrass is an account representative at Ever Pharmaceuticals. She has a company car for customer visits, which she uses to commute from work to home on Friday nights and from home to work on Monday mornings, 50 weeks per year. Her commute is 25 miles each direction. Required: Using the commuting rule, what is the valuation of the fringe benefit?

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  1. 13 June, 19:51
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    Answer: None

    Explanation: The IRS commuting rule allows for business travel expenses to be deducted as business expenses but this does not apply to commuting expenses.

    Business travel expenses include Judi driving the company car to customer's locations or using any other form of transportation to meet a client. It even covers travelling by plane to another state for the same purpose.

    It however does not apply to travelling between home and work, this is a daily travel expense as you need to get to work anyway.
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