How to create an executive-level mobile office

Executives are always looking for ways to be more efficient, and while you have been successful in working on airplanes and in airport lounges and hotel rooms, have you properly tuned your vehicle so that you can? it becomes a mobile office?

Let us help you achieve the new work / life / car balance. We’ll explain why it’s important to improve your mobile office, what equipment to buy, and if you need it. business auto insurance.

Why you should turn your car into a mobile office

Besides not doubling your spending on a car loan, gasoline, maintenance, parking, and registration to have a separate car for business, here are three other factors to consider on how to use your car. your personal business vehicle could be of benefit to you.

# 1 – stay on top of the trend

Being on the go seems to be here to stay.

Individual workspaces in static physical workplaces were on the decline, even before the pandemic. Offices were only 30% used before the pandemic, according to a to study by the VergeSense workplace analytics platform. In January 2021, usage was down 2.8 times more, to 7.9%.

And the workplace is redesigned, less for individual work and more for collaboration. The study also noted that pre-pandemic collaborative spaces were used 25% more than spaces dedicated to individual work. By January 2021, collaboration usage had increased by 15%.

So not only will you spend less time in the office, but you will also have less space for your individual needs and expression. Instead of offices and offices, the focus is now on conference rooms, lounges and meeting spaces.

In a personal car that you host for business purposes, you can dedicate the space to your individual goal, needs and wants related to improving your job.

# 2 – do better business

We are all creatures of habit and we are used to favoring the familiar.

Using a personal car rather than a company car may be a better option because not only will it be more comfortable but, especially for executives, it will help reduce decision fatigue.

You won’t have to clutter your brain with decisions about managing an additional vehicle, from adjustments between two different sets of vehicle characteristics to the time and costs involved in maintaining two separate vehicles. You can keep your brainpower focused on making important decisions.

Using your personal vehicle for business will also give you more control over your environment and improve your productivity while being mobile. You can outfit your personal car with whatever gear you want to do your job better without having to go through the bureaucracy of trying to outfit a company car with whatever you want.

And if you like having all of the latest bells and whistles on your commute, using your car for business could be a great way to make the most of the latest tech-related amenities. Cars are getting smarter, so why not take advantage of it when you have to spend some working time on the road?

# 3 – Get tax deductions

Deciding to use your car for business purposes can help you at tax time, as you can deduct certain business-related expenses. You have two options for claiming deductions:

  1. Actual expenses. This includes the actual costs of operating your car for business purposes, so you can deduct the business part of the costs related to gasoline, oil, repairs, tires, insurance, registration fees. , licenses and depreciation (or rents).

  2. Standard kilometer rate. Multiply the standard kilometer deduction (56 cents in 2021) by the number of business miles driven during the year.

Separately deduct car expenses such as parking fees and tolls attributable to business use, whichever method you choose.

If you go for the standard mileage rate method, it allows you to bypass some limits and restrictions. It’s also easier. But it is often less advantageous in monetary terms. Generally, the standard mileage method benefits taxpayers who have cheaper vehicles or who drive many business kilometers.

Keep track of the number of kilometers driven and the total amount you spend on your vehicle so that your tax advisor can determine which option is the most beneficial. And when you report business use on your tax return, tax laws require that you keep records of travel expenses, including receipts if you use the actual expense method.

Use a mileage logbook or even better, an app. There are several that can help you track your business expenses, including mileage and billable time. You can create formatted reports that are easy to share with your chartered accountant, registered agent, or tax preparer.

If you don’t already have a separate credit card for your business, consider using one to simplify record keeping.

Items you need to turn a car into a mobile office

Although you may think of yourself as a business travel pro To meet the challenges of managing business around long-distance travel, becoming a mobile office pro is a little different.

Since you will have more space to work than an airplane seat and more permanence than a hotel room, here are some business booster seats best suited to equip your vehicle in work mode.

Work items for your car desk

Comfort and style items for your car desk

  • Car emergency kit

  • Coffee thermos or coffee machine

  • First aid kit

  • Headrest mounted hangers

  • Healthy snacks

  • Mini fridge or electric cooler

  • Safe

  • Tinted glass

  • The water

  • Windshield Sunshade

How to insure your car as a mobile office

The downsides of using your personal vehicle for business purposes are that you increase your car’s mileage that you wouldn’t normally do, and you might need additional insurance coverage.

Why you should check your insurance

The way you use your vehicle has an impact on your auto insurance.

If it’s been a while since you spoke to an insurance agent for a price comparison or completed an auto insurance application, you may have forgotten that you were asked about the intended use of the vehicle you are insuring.

The insurer needs this information because they must determine the type of coverage you need based on the intended use of the vehicle. So even if you have a family vehicle, what you do with and in that car will determine whether you need professional auto insurance or whether you are covered under your personal policy.

If you are a professional who drives your personal car for business purposes, you could very well purchase a strictly personal automobile policy.

But in order for your insurer to pay, you must let them know that you are driving on business so that you can be charged the correct rates for the risk you present. Although business use is the highest risk class and comes with the highest sticker price, it is a class that gives you the flexibility to purchase standard insurance without the need for a commercial policy. .

Since there is a long list of determining factors that insurance companies use to calculate vehicle usage, you should review your auto insurance requirements and exclusions with your insurance agent.

This way you can avoid having a loss if you have an accident while you are working: When you file a claim, it could be denied because the insurer was unaware of your business use.

When you need business auto insurance

The type of vehicle you drive may exclude you from a personal automobile policy. While compacts, coupes, sedans, wagons, and minivans that are used for suitable types of businesses may be covered by a personal policy, some policies will not extend commercial coverage to a pickup truck or truck. van used for business purposes. .

Certain types of use would automatically make you ineligible for personal insurance, even if you are driving your vehicle for both business and pleasure. This includes whether the vehicle is used for the delivery of goods and supplies, for the transportation of people, is occasionally driven by employees, or is leased or leased to others.

The best auto insurance for businesses

If you need business auto insurance, expect to pay an average of just over $ 300 per month.

When you talk to your insurance agent about your coverage for driving your vehicle for business depending on your situation, their option may be the most affordable and applicable for you.

But it doesn’t hurt to use an online grade comparison tool to see what’s available. Prices and details vary from carrier to carrier. Geico, Progressive, GMAC, Nationwide and State Farm are the most recommended insurers for insurance policies for the business use of your vehicle.

We hope we have helped you with insurance ideas and advice on multitasking your personal vehicle. You will be able to escape your office or home and get a change of scenery while enjoying maximum productivity, convenience and comfort to steer you towards business success.


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