As the Federal Reserve interest rate benchmark continues to reach 15-year highs and operating costs continue to increase, many companies have been looking for ways to retain employees while maintaining company costs. A fixed and variable rate (FAVR) program has been popular … Read More

For many companies, every year brings new initiatives, goals, and provides time to re-align themselves to their desired company culture. Furthermore, as the Federal Reserve raises interest rates to the 15-year high, and operating costs continues to increase, it may be an … Read More

It may appear rudimentary when looking at the different ingredients that go into vehicle reimbursement for companies with drivers on the road. Depending on the reimbursement type (car allowance, cents per mile, or FAVR program), it is commonly mistaken that … Read More

Car Allowance vs. IRS Standard Mileage Rate vs. FAVR Program Employee travel programs are often the second largest expense for any company. When evaluating different vehicle reimbursement programs, deciding which program aligns with your company’s culture may be challenging. Frequently, … Read More

There are many different ways companies can offer their vehicle reimbursement program. All vehicle reimbursements are calculated by the average fixed and variable costs to drive a vehicle in a year. In a Fixed and Variable Rate (FAVR) Program, we … Read More