Enjoy Freedom? Money?

Get Breaking Fastlane Updates.
  1. the entrepreneurs red pill

    Talk To Other Millionaire Entrepreneurs ... for FREE!

    Some people take advice from millionaires, others take advice from people who want to be millionaires. If you're tired of taking millionaire advice from your broke uncle, your paycheck-to-paycheck friend, or your 30K millionaire co-worker, register today and get the uncensored, and yes, the sometimes uncomfortable truth from real millionaires who live and die in the entrepreneurial trenches.
    register for the fastlane forum

    Start Your Own Personal Revolution: Grab the Book that Started it All!

    Get The Millionaire Fastlane ||| Download 3 FREE Chapters ||| Learn More
  2. On Saturday September 20th the forum is scheduled to be down for 1, perhaps 2 hours while the software is upgraded. During this time, the forum appearance may be altered with some functions, such as Rep Speed, non-functional. Just an FYI and my apologies for the inconvenience.

Setting up seperate business entity for vehicles

Discussion in 'Asset Protection/Taxes/Legal' started by cwindsor, Mar 22, 2013.

  1. cwindsor

    cwindsor PARKED

    Mar 22, 2013
    Likes Received:
    Speed Points:
    Rep Bank:
    I own a contracting company (entity 1) and we are going to set up a seperate entity (entity 2) to own a fleet of vehicles for liability reasons . I'm not too sure of how this works on paper. Does entity 1 rent the vehicles from entity 2 for $1(more realistically the exact costs entity 2 incurs owning them)? How does the insurance work in this situation? I'd guess the policy has to be written to entity 2 (since it owns the vehicles) but how are the drivers (employees of entity 1) covered?

Certain Xenforo Add-Ons by Waindigo