Backpacker
Recycles dryer sheets
Wonder if anyone has pondered on this. I can use the company car for personal use and have to show as income the IRS mileage rate of 58 cents per mile for 2019. I might have personal use of 4000 miles per year, so I've increased my taxable income by $2,320. At the income tax rate of 22% + FICA at 7.65% + some state tax, my cost is really only 700 bucks or so. Upside is this is increasing my annual income in the Social Security calculation. I can't imagine that the 2,320 extra income per year is going to move the needle much for SS. I'm thinking I should still minimize PUCC and will come out ahead in the long run. Or should I maximize PUCC?
I'm probably WAY overthinking this and appreciate any comments or math wizardry you folks may share.
I'm probably WAY overthinking this and appreciate any comments or math wizardry you folks may share.