If your sales or merchandising teams often find themselves on the road, racking up mileage on their personal vehicles, then this is a must-read for you. In the fiercely competitive beverage industry, sales and merchandizing professionals cover extensive territories, frequently visiting various clients, liquor stores, supermarkets, and bars.
Keeping track of vehicle expenses and handling tax implications can quickly turn into a frustrating, time-consuming task. This is where vehicle reimbursement programs can transform the game.
The Problem: Burden of Recordkeeping and Taxation
Here’s a familiar scenario for your team:
- Regularly monitoring fuel prices and keeping track of receipts.
- Ensuring timely maintenance of their vehicles.
- Handling wear and tear costs.
- Calculating mileage for tax deduction claims.
- Spending significant time on recordkeeping.
Sounds familiar? This is the typical plight of salespeople and merchandisers without a vehicle reimbursement program.
The Solution: Vehicle Reimbursement Program
Benefits of a Vehicle Reimbursement Program
- Increased Productivity: Without the worry of expense management, your team can focus on their core tasks – building relationships with clients and driving sales.
- Attraction and Retention of Talent: Offering such benefits can be a compelling selling point for prospective employees and a strong retention tool for current ones.
- Tax Benefits: Programs like tax-free car allowances can help your team avoid tax implications, making their work travel even more financially beneficial. Indeed, companies and their people can save 30% on their total vehicle reimbursement compared to taxed allowances.
In conclusion, vehicle reimbursement programs are not just a perk – they are a strategic tool to empower your sales and merchandising team, driving your company’s success to new heights.
Book a demo to learn more today.