Everlance powers tax-free mileage reimbursements, tailored to your business and mobile workforce.
Everlance’s proprietary GPS mobile app and mileage tracking technology is highly regarded for ease-of-use, performance, and reliability.
A dedicated account manager will respond to all customer issues. Everlance’s driver support team is on hand seven days a week via phone, email, or chat.
Everlance’s mileage tracking platform unlocks valuable business intelligence, so that you can make informed business decisions and drive operational efficiencies across your mobile workforce.
Drivers track mileage in the field using #1 rated mileage tracking app powered by GPS satellites. Team managers have visibility into business related trips by team and by individual employee.
FAVR means less money leaves your company’s account. Everlance will work with you to develop and implement a compliant, tax-free FAVR reimbursement program that achieves your company's budgetary objectives.
With Everlance’s reporting features, you'll gain insight into everything from total time spent driving to regularly visited sites. Easily download reports that leverage data into actionable insight.
Everlance will manage the entire reimbursement process with industry-leading payment processing times. Employees have the option to receive tax-free CPM or FAVR reimbursements via direct deposit, debit card, or physical check.
A FAVR vehicle reimbursement program tailors employee mileage reimbursements based on your employees’ geographic location and personal vehicles they might drive to perform business tasks.
A Cents-per-Mile (CPM) reimbursement program relies on the IRS standard mileage rate to reimburse employees for the use of their personal vehicle for work purposes. A CPM program reimburses employees the same rate, regardless of where they operate the vehicle, or the type of vehicle they might drive to perform business tasks.
A FAVR program is a more sophisticated mileage reimbursement program. Everlance’s FAVR car allowance program factors each employee’s local fixed costs of vehicle ownership (depreciation, taxes, insurance, license & registration, etc.) and variable costs of vehicle operation (oil & gas, maintenance, tire wear, etc.) to create a customized mileage reimbursement rate that is specific to each driver, based on the employee’s location and vehicle type.
Yes, when designed according to the IRS guidelines, a compliant FAVR program allows tax-free reimbursements to employees for the cost of operating a personal vehicle for work purposes.
In this sense, FAVR is similar to CPM in that both programs create tax-free accountable plans for reimbursing employees’ business expenses, according to IRS guidelines.
While a fixed driving stipend or car allowance is a simple and straightforward program to offer employees, it creates a fringe benefit that is taxable. This tax burden applies to both employees (income taxes) as well as their employer (payroll taxes). A compliant FAVR program that is properly implemented allows tax-free mileage reimbursements to employees.
In addition to this tax advantage, FAVR programs are generally more fair to employees than monthly stipends -- as the FAVR program accounts for each employee’s actual vehicle costs and the amount a particular employee may or may not drive for work.
Everlance will work with you to develop and implement a compliant FAVR program that achieves your organization’s budgetary objectives. Certain eligibility requirements -- such as a minimum of 5 employees each driving more than 5,000 business miles per year -- will determine whether a FAVR program is suitable for your organization and its mobile employees. Please reach out to the Everlance sales team to see if a FAVR program is right for your organization.