It Is Your Choice
You can get a Summary Report and a Detailed Report.
This is ideal if you only want to show for each applicable
method what is the compensation for personal use of the vehicle. The report lists amounts
for all 4 methods. If an amount is not listed for a method, the report will explain that
either there were no inputs or the employee did not qualify to use the method.
This report is excellent to give to an employee who does not
have questions how the W-2 automobile inclusion amount for personal use of a company car
was arrived at.
The computations are not shown on this report, but they are
shown on the Detailed Report.
This is ideal for an employee who has questions why something
was added to his W-2 for the use of the company car. The detailed report shows each
calculation needed to arrive at the compensation for personal use of the company car. The
employee will see that all possibilities were considered.
The Detailed Report is what you want to have in your files in
case the IRS has questions how the employer handled the personal use of vehicles. This
report shows every addition, subtraction, multiplication and division needed to come up
with the auto fringe benefit.
Take A Look At The Reports
If you have Adobe Acrobat on your computer, click here to view or download a sample of the reports.