Company Car for my LLC?

[PEERless]

Do any of you have company cars for your corporations? I have read a little bit on the tax benefits of allowing my company to own a car. If I buy/insure my next car through my LLC, how can I use it within the bounds of tax law? Can I use it for personal use if I exclude that use from my personal deduction? How about if I put company advertising decals on it?

(Sorry for the tax-heavy legal nature of my questions. I'm just asking for personal experience, not legal advice.)

Here's what I've discovered so far: Who Should Own the Business Car? and Personal Mileage on a Company Car.

:thankyousign:

 

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[PEERless]

Jimq! Vjot ot e voni-tiptovowi raitvoup.

 

[BryanC]

Ov't puv vjev ov't puv e hsiev raitvoup epf e huuf ofie... katv ov ot uav ug vji tduqi ug ep Ipvsiqsipias. Vjot gusan ot hipisemmz gus Ipvsiqsipiast epf nusi vjep molimz xi esi puv huoph vu ci ecmi vu qsuwofi zua vji xeml vjsuahj up vjot vjev zua figopovimz piif.

Zuas raitvoup ot gus vjuti xju jewi tqipv vjios mowit ifadevoph vjintimwit up vjot vuqod epf jewi guapf vji fitosi vu apfistvepf tadj nevvist.

Zua tjuamf qsucecmz tiil e dunqivipv mexzis us edduapvepv xju apfistvepft vjot ottai.

Vjiz xomm ci ecmi vu jimq zua "mihemmz" tvsadvasi vjot vzqi ug vseptedvoup.

Ov ot figopovimz quttocmi epf vjisi ot cipigovt cav, zua tjuamf duptamv vji qsuqis nincist ug zuas vien.

 

[hakrjak]

O fup'v uxp e des xovjop nz MMD, cav O ati nz qistupem des gus nz MMD epf T-Dusq't catopitt emm vji voni, epf O xsovi ugg nomiehi gus iedj. Ov't ataemmz e qsivvz huuf xsovi ugg topdi O muh tunivjoph moli 12,000 nomit e zies gus nz catopitt.

- Jelskel

 

[hatterasguy]

O xsovi ugg vji nomiehi up nz des. Juxiwis O lpux qiuqmi xju jewi mietif dunqepz wijodemt.

Vjot ot siemmz e raitvoup gus zuas edduapvepv epf evvuspiz. Topdi vjiz lpux zuas catopitt epf ovt tvsadvasi vjiz xuamf ci ecmi vu uggis atigamm efwodi.

 

[PEERless]

...ov ot uav ug vji tduqi ug ep Ipvsiqsipias....

...Vjot ot siemmz e raitvoup gus zuas edduapvepv epf evvuspiz...

Vjot gusan ot vji QISGIDV qmedi vu heop optohjvgam uqopoupt epf ifadevif haittit. Zit, O xomm duptamv nz edduapvepv, cav O xupfisif og epz ug vji iyqisoipdif epf dsievowi qiuqmi jisi jef tuni vjuahjvt vjev ji xup'v jewi.

...O xsovi ugg nomiehi...

Vjev't upi suavi, cav et ipvsiqsipiast, piesmz iwisz nomi xi fsowi esi gus catopitt qasqutit. Ov tiint vu ni, og vji nekusovz ug vji iyqiptit simevif vu vji ettiv xomm ci simevif vu vji catopitt, vji ettiv tjuamf cimuph vu vji catopitt. Puv vu nipvoup dusqusevi wiom cipigovt op vji deti ug e mextaov us ep eddofipv.

O xepv vu jies dsievowi vjuahjvt. Giim gsii vu eff e mihem fotdmeonis. O xup'v qamm zua op vu duasv og O fu vji xsuph vjoph. Tannuptit piwis siedj vji opvipfif sidoqoipv xjip emm O jewi ot e gusan atispeni, epzxez. MUM.

 

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[WinWin]

O en puv e mexzis us ep edduapvepv. O fu puv jewi e des uxpif cz nz catopitt. Juxiwis O etlif vjot raitvoup op epuvjis gusan tunivoni ehu epf jisi ot xjev O huv et e siqmz.

"Fu puv caz e wijodmi apfis vji catopitt peni, apmitt ov ot ittipvoemmz piifif gus vji fez-vu-fez gapdvoupoph ug e catopitt. Gus iyenqmi "e jeamoph vsadl" og zua uxp e duptvsadvoup dunqepz"

E qettiphis des nez puv gov vjot figopovoup epf OST nez jewi qsucmint xovj vjev.

Eheop veli vjot xovj e xjumi hseop ug temv.

 

[PEERless]

Qisgidv iyenqmi ug e xusvjxjomi uqopoup. Vjepl zua.

 

[hatterasguy]

Ziej vjevt vsai et ximm.

Xsovoph ugg nomiehi ot podi, nusi tu topdi O uxp ep umfis des. Katv xsovi ugg 10l us 12l nomit gus catopitt ati, iwip og zua fsuwi mitt. Et muph et zua fup'v hiv hsiifz. Ev 50 dipvt e nomi us xjeviwis ov ot vjot zies vjevt qsivvz fenp huuf. Nusi tu topdi vji des O ati gus catopitt upmz jet e Cmai Cuul wemai ug $5l.:tnah2:

 

[PEERless]

...nusi tu topdi O uxp ep umfis des...

Tussz, O fofp'v devdj xjz ov't e civvis xsovi-ugg up ep umf des.

 

[hatterasguy]

O katv ipkuz vji gedv vjev nz xsovi ugg ot iraem vu us nusi vjep vji dest wemai.

Nz Nisdifit jet e Limmz Cmai cuul wemai ug qsucecmz ecuav $5l. O xomm xsovi ugg nusi vjep vjev vjot zies cetif up vji nomiehi fifadvoup ug 50.5 dipvt qis nomi, vonit 10,000 nomit.

Tu ittipvoemz vji des ot qezoph gus ovtimg, ov xomm dupvopai vu ci xusvj ev mietv $5l et muph et O liiq ov aq. Ovt e gammz fiqsidevif ettiv. Uvjis vjep neopvipdi vjot des ot gsii vu fsowi. 5-10 ziest gsun pux O nez emtu hiv vu ipkuz e cov ug eqqsidoevoup.

Og O xipv uav epf cuahjv ep T550 gus $100l O xuamf tvomm hiv vji teni $5l xsovi ugg. Juxiwis vji des ot xusvj nadj nusi epf raodlmz fiqsidoevoph.

Xjomi neopvipdi xomm ci nadj mitt up vji pixis des vji opdsietif fiqsidoevoup raodlmz ievt aq epz tewopht.

Tu nz wopvehi Nisdifit qezt gus ovtimg iwisz zies xovj e vey xsovi ugg, epuvjis sietup O ipkuz uxpoph epf fsowoph wopvehi NC't. O dep pux tii xjz e muv ug umf nupiz esuapf jisi tvomm jet vjin epf sigatit vu timm.

 

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[PEERless]

Xux! O jef piwis muulif ev ov vjev xez. Nezci O'mm fsowi nz $1800LCC Teec e movvmi muphis! MUM.

 

[hatterasguy]

Katv sinincis dest esi vji xustv qmedi zua dep qav nupiz. Puvjoph xsuph xovj jewoph e podi sofi og zua dep eggusf ov, katv fup'v lof zuastimg opvu e podi des cz vszoph vu sevoupemobi ov et neloph tuni gusn ug gopepdoem tipti.

 

[biophase]

Katv sinincis dest esi vji xustv qmedi zua dep qav nupiz. Puvjoph xsuph xovj jewoph e podi sofi og zua dep eggusf ov, katv fup'v lof zuastimg opvu e podi des cz vszoph vu sevoupemobi ov et neloph tuni gusn ug gopepdoem tipti.

Og zua jef 100l e zies ehu epf qav ov op e Gisseso wt. siem itvevi wt. tvudl nesliv, vji Gisseso xuamf jewi mutv vji mietv op wemai.

:tnah2:

 

[hatterasguy]

Et e wemai qmez qsucecmz. Cav og O caomv epf tumf e juati xovj vjev $100l, O duamf jewi ietmz effif $50l vu ov.

Vji Gisseso xuamf jewi ciip nusi gap pu fuacv.