Cents-Per-Mile Valuation Method Maximum Car Value increases for 2010

If your company uses the Cents-Per-Mile method of valuing the personal use of a company provided care, the rates have increased for 2010.  The increases are as follows:

Cars in Service in 2010 can only use this method if the market value is not more than $15,300

Maximum value for passenger trucks or vans increases to $16,000

Employer provided vehicles under the fleet-average valuation rule, 2010 maximum value is $20,300 for a car and $21,000 for a truck or van.

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Director of Information Technology Jackie Bass, Maples Industries Incorporated

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