The fair-market value amount that is used to qualify for cents-per-mile valuation of personal use is to increase for cars and remain the same for trucks in 2019, according to Bloomberg Tax calculations.
The cents-per-mile rule may not be used for employer-owned passenger cars that are available for personal use by employees in 2019 with a fair-market value of more than $15,700, up from $15,600 in 2018, or for trucks and vans with fair-market values of more than $17,600, unchanged from 2018.
The truck fleet value is $23,100 in 2019, unchanged from 2018, while the car fleet value is to ...
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