Leaf Fringe Benefit: Work Mileage Reimbursement

[CMYK4Life]

I am shutting it down here on Friday and getting repared for a two-day training seminar starting Monday. The seminar is 80 miles away and I will be taking my Leaf. I am familiar with the city that the seminar is in and know of several L2 stations; 1 of which is within walking distance of the hotel.

I estimate I will drive ~180 or so miles total getting there and back, going out to lunch/dinner.

At out companies current rate I will be reimbursed apprxoimatley $85.

As a frugal person I am very excited about this. It will cost me $2.25 at home to charge to 100% before the trip, the rest will be 'free' public charging. Even if you count me charging back up when I get home I will gain $80 on this trip. Sure there will be some wear and tear on the Leaf, but hardly $80 worth.

So yeah, a fringe benifit of owning a Leaf is if you drive it for work purposes you actually profit from driving it!

I cant do this on all my work trips (distance + time restrictions) but this one is going to be nice!

 

[Rat]

I posted a very similar thread recently: Make money driving your Leaf. The $.55/mi deduction allowed by the IRS for the self-employed (which may go up for 2013), while not as generous as the company reimbursement you describe, still is worth more in tax reduction than the cost of driving the Leaf. The difference is huge if you can use free public charging, but it's a net gain even if you charge at home, especially if you have a TOU rate.

The IRS rate, as is known to the IRS, Congress, tax professionals, the auto industry, and business owners, is intentionally set at quite a bit higher than the actual cost. This is an incentive to drive more and invest in capital equipment (i.e. vehicles) more often for the sake of the economy. As a stimulus to the economy, that's fine, but it's obviously poor environmental policy, and like all subsidies to businesses, may be seen as promoting inequalities that hurt the poor.

 

[Stanton]

I've often thought about this when driving to/from the airport (typically my longest single trip) for business.
While you still have to pay for insurance, etc., the fact that the per mile energy cost of an EV is so low puts a smile on my face

 

[Rat]

I've often thought about this when driving to/from the airport (typically my longest single trip) for business.
While you still have to pay for insurance, etc., the fact that the per mile energy cost of an EV is so low puts a smile on my face

Insurance is a fixed cost unless you put in a lot of extra mileage due to business. Similarly with depreciation. The occasional business trip will not result in any added expense for insurance normally, nor will the car be worth less at the end of your lease or when you trade it in 10 or 15 years from now because of those trips. The mileage on an ICE car will affect its resale, but with EVs I'm pretty sure the value of the Leaf will be determined pretty much by the changed technology and issues like infrastructure (e.g. is CHAdeMO still around). The marginal cost of taking the Leaf on that trip is pretty much just the cost of energy and some minor tire and brake wear, which means the gain is even higher than it might appear.

 

[CMYK4Life]

I am now REALLY glad I made this trip. I didnt realize but the university in the town I am visiting has a solar array connected to EV Charging stations (a cluster of 10-15). I was reading about it last night - I am sooo going there after training tonight - charging up and taking photos. Lol