Message Font: Serif | Sans-Serif
No. of Recommendations: 0

any advice is appreciated.

first let me describe a common scenario that pertains to me:

Doctors often lease cars via their practice. Their practice pays for the lease and a credit card is used to pay for the gas.

Obviously, this is a perk of the job and the doctor never has to report the money paid towards the lease as income to the irs.

So, my question is whether this is kosher or not?
I figure it must be a gray area as many, many physicians (and other business people alike) probably do this.

I am about to join a practice and want to know if it is okay for my employer to do this same thing for me. Pay for my lease payment, so it never gets paid to me as income. I will be an employee of the practice with a salary. They plan on paying for my monthly lease payments.

Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.