About two months ago I was asked to start traveling between multiple job sites that we had. I told the company that I needed a company vehicle for that kind of traveling. They agreed, and I got a 2024 Sierra SLT. Here's the thing though, it's a rental and not a dealer-bought company truck earmarked for me – so that's a difference worth noting…Immediately upon receiving the truck I'm asked to relocate 3 hours north to one of the job sites, which may I point out is NOT what our original agreement was – which was: traveling between 2 or 3 sites per week but always being home at least every other day… So I understand the needs of the company can shift, so I made arrangements for my sick mother and my wife and her Mom, a new widow… and I lived out of town for almost everyday for roughly 2.5 Months – traveling back only when absolutely needed and approved by the company. All the while turning in gas receipts, getting reimbursed, and noone ever mentioned anything at all that I wasn't doing right or should change while driving this truck. The company was aware of my very difficult family situation and had been working with me for a couple of years since it all started when I lost my father… allowing things like a flexible schedule and time off when needed – for years. But after ~2.5 months living 3 hours North of my family, I finally got the word I could go back home and work out of our home base and just travel between sites as originally planned. Sounds great…right? Not exactly – this is where I need your experiences! In those 2.5 months, the company added a $16,000 fringe benefit to my YTD TOTALS on MY check stub for this new truck….and now that I'm commuting to our local office, one of the other guys out here is having me park the truck and drive my car back and forth. Originally he said I was supposed to keep driving as I normally would while at work, but in the days following, he's gotten the spare fob and assigned the truck out to some other guys on site and they have been doing god knows what with it – and it still has all my personal effects in it too, as I never was told this would happen and I had kept the original key fob…
So my biggest question isn't did I get screwed…although I know what my guts telling me….but what about the additional $16k tax liability that I now have(or do I not?)And the fact they took my truck, that I may be paying taxes on 16k for this year….and getting their company tax break and using it for other things it wasn't intended to be used for to make the company some loot….
It just seems real shitty and real shady to me….but Does that YTD fringe money added to my check stub for the truck increase my YTD earnings at the end of the year – thereby increasing my tax liability for the year 2023? Do I realistically need to plan on paying the tax on an additional $16k fringe benefit that I didn't receive until September, and don't have access to in two week into October? Very curious…