New IRS Cellphone Deduction Laws Require MobilityView for Compliance
America’s leading, if not number one, tax planning expert for the last 35 years is recommending that every employer and employee in the USA use mobility View’s Mobile Cost Management (MCM) solution. mobilityview
Jeff’s book ‘How to Pay Zero Taxes’ is now in its 36th edition and is a testament not only to his stature and expertise in the USA but also to the popularity of his book. For over three decades, ‘How to Pay Zero Taxes‘ has helped business owners and employees save money on their taxes. In all this time, Jeff has not seen a solution such as MobilityView‘s, capable of tracking every call, text message, and data byte in real-time and delivering detailed tax-compliant reports showing business / personal usage and cost calculations.
“Effective January 1st 2018 there have been significant changes to the tax code that affect every employee and employer in the country. A solution like MobilityView is the best tool that can keep employers and employees tax-compliant as it pertains to the specific changes in the Tax Code around cellphone and portable computer deductions. I was so impressed that they are featured in the 36th edition of my best-selling book ‘How to Pay Zero Taxes’,” said Jeff Schnepper.
With many individuals and companies still unaware of the tax exposure with respect to their cellphones, mobilityView CEO, Thom Damstra, provides some timely advice in managing this issue. “Global tax authorities have for years required employers and employees to keep a mileage book for the personal use of a corporately provided automobile (corporate provided asset / car) and / or the business usage of a personal automobile (bring your own asset / car). Effective January 1st 2018 the IRS (Internal Revenue Service) now requires a mileage book for the cellphone and wireless subscription plan. Business and personal usage is required to be documented and substantiated for every call, sms, and packet of data. The new IRS requirement applies in ALL scenarios, including:
- Corporate paid cellphone and / or wireless subscription plan
- Employee provided cellphone and / or wireless subscription plan with reimbursement via a Stipend (monthly allowance, defined by the employer, and paid to the employee for business use of a cellphone), full expense reimbursement or partial expense reimbursement
All the following wireless deployment strategies, used by employers, are affected by the new changes from the IRS:
- COPE (Company Owned/Personally Enabled)
- COBO (Company Owned/Business Only)
- COLD (Corporately Owned Locked Down)
- CYOD (Choose Your Own Device)
- BYOD (Bring Your Own Device)
- BYOO (Bring Your Own Operator)
- Stipend (monthly allowance, defined by the employer, and paid to the employee for business use of a cellphone).”
READ MORE: Would You Like To Stop Paying For What You’re Not Using?
Consider purchasing ‘How to Pay Zero Taxes‘ by Jeff Schnepper to obtain a 60 day free trial, and a special purchase discount, for mobilityView’s MCM (Mobile Cost Management) cloud service, which can track usage & cost to the penny – all calls, text messages and data – and automatically creates detailed tax compliant reports showing business / personal usage and cost calculations.
The MCM Platform by mobilityView is a cloud service that enables individuals to properly account for the business and personal usage and cost of a mobile smart device (smartphone, tablet, phablet, etc.). The technology has been patented in the USA (and in 3 continents) and is patents pending in over 83 other countries. The tool is great for any individual to automate their mobile smart device expense claim process for economic reimbursement and accounts for voice, SMS, data and roaming scenarios. The solution is also highly applicable for businesses of any size, seeking to only pay for business usage of mobile assets. It provides a complete view of all mobile costs, previously not thought possible.
Employers can sleep at night knowing that their costs are contained and employees can experience mobile democracy—they are freed up to do whatever they want on their mobile device. Play video games, watch movies; and engage in social media with utter privacy. “The MCM Platform provides clear unequivocal, and immediate return on investment for businesses of any size”, said Thom Damstra, CEO of mobilityView. “The flexibility of the platform opens up tantalizing possibilities to simultaneously reduce cost, provide new flexi benefits, and increase the usage of mobility within any organization. Until now these three simultaneous benefits have been impossible to deliver.”