Value of a company vehicle

Discussion in 'Business Operations' started by LwnmwrMan22, Jul 16, 2008.

  1. LwnmwrMan22

    LwnmwrMan22 LawnSite Platinum Member
    Posts: 4,372

    I've got 3 trucks sitting around, used mostly for snowplowing.

    I've got (2) 2006 Dodge Ram 2500 CTD quad cabs and a 1999 Dodge 2500 extended cab.

    I run one of the 2006 for work, my dad runs the other 2006 to run parts for me, and the 1999 sits for the most part in the summer, we use it for an emergency backup, or to take the boat fishing, so it gets driven at least every other week.

    I use all 3 for snowplowing.

    I'm trying to come up with a value as to what this vehicle would be worth to someone to have as a company vehicle. I've pretty much got to hire some people, and would like to use assests that I already have.

    Also, today while I was mowing at one of the banks I do, the president said he'd like to sell HIS 1999 Dodge 1500 with 42k miles on it that he used to plow his own driveway. Another vehicle I could get into VERY VERY reasonably, and have another plow truck in the winter to be used for a backup / sidewalk crew.

    Anyways, anyone here already have a crew leader or supervisor that has a company vehicle?? What do you show for value as compensation?
     
  2. Az Gardener

    Az Gardener LawnSite Gold Member
    Posts: 3,899

    I think your tax guy will have a government approved number for you. The employee has to pay tax on the benefit. Even though he does not receive it in the form of cash it still has value and the man wants his cut.
     

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