The Internal Revenue Service issued a revenue procedure that provides simplified methods for determining the value of demo used and the amount, if any, to be included in income. It specifically provides simplified methods for determining: The full exclusion …
In 1998, the Internal Revenue Service said that without written records to substantiate business and personal use, the use of demos, even by salespeople, was not excludable from income as a working condition fringe benefit. NADA asked the …
This policy statement is designed for use by dealers that wish to adopt the partial exclusion methods of accounting for use of demonstrator vehicles provided to full-time automobile salespeople. Material in italics explains how to use the policy …
This policy statement is designed for use by dealers that wish to adopt the out/in or full exclusion methods of accounting for use of demonstrator vehicles provided to full-time automobile salespeople. It may also be used to explain …