The 2015 values to be used to under the fleet valuation rules and cent-per-mile rules have been projected and will be officially released by the IRS in the near future. Fleet valuation is available when an employer has a fleet with 20 or more cars and each individual car in the fleet has a value of less than $21,300 for 2015, the same as it was for 2014. The fleet valuation figure for trucks will increase to $22,900.
The cents-per-mile method may not be used if the car’s fair market value is greater than $16,000 in 2015, the same as it was for 2014. The value for trucks will increase to $17,500.
For more information on this and other topics, consult the Visit our News Library.