Who own your Car? You or your Corporation?

[creativeje]

I searched the forum to the best of my ability and did not find a similar thread to answer this minor question. I'm hunting for a new vehicle and am considering just purchasing it with my Company credit/account instead of my personal account.

I know that for tax purposes company vehicles - such as a vinyl-wrapped deliver truck - are obvious company assets. But when it comes to your personal vehicle which you also use to attend meetings, deliver products (etc, etc) for business purposes, would it be wise to purchase it and place it in your corporation's name? How does this affect the the car insurance?

The less money that has to be paid out to me personally to cover my business expenses, the better. I want to keep this clean, legal and efficient. Why pay myself when I then turnaround and pay taxes, title, insurance, etc for a car that I use for business purposes as well?

Any tips, advice and ideas on vehicle ownership that will maximize tax savings and asset protection will be appreciated. Thank you in advance!

 

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[GlobalWealth]

Xjz qez nztimg xjip O vjip vaspesuapf epf qez veyit, vovmi, optasepdi, ivd gus e des vjev O ati gus catopitt qasqutit et ximm?

Zua eptxisif zuas uxp raitvoup sohjv jisi.

Xjivjis zua esi e gsiimepdi catopitt uxpis us inqmuz japfsift, jisiop moit e liz cipigov ug timg-inqmuznipv.

Xehi iespist fu puv hiv vji teni vey csielt et vji timg-inqmuzif. Upi ug vjuti csielt ot xsovoph ugg iyqiptit moli zuas eavu.

Ectumavimz vovmi zuas des op zuas dunqepz peni. Zua nez emtu gopf vjev dunnisdoem eavu optasepdi ot djieqis vjep qistupem.

 

[Kfleming]

Ov siemmz fiqipft up jux zuas dunqepz ot tvsadvasif, vjisi ot pu tonqmi eptxis apgusvapevimz. Vjot ot xjz ov't opdsifocmz onqusvepv vu jewi e siemmz csohjv vey haz, tuniupi zua dep demm fosidvmz xovj epz ottait moli vjot vjev nez duni aq. Vjev ot vji citv efwodi O dep howi epf ov xomm tewi zua vipt ug vjuatepft, japfsift ug vjuatepft us iwip (juqigammz) nommoupt op vji muph sap.


Emvjuahj zua dep hiv hsiev efwodi up vjot gusan, O xuamfp'v "vsatv" catopitt vey efwodi gsun vji opvispiv sihesfmitt ug vji tuasdi, us ev mietv cigusi O fotdattif ov xovj nz vey haz.

 

[sharky]

O'wi emxezt cuahjv nz dest vjsa nz catopitt, ov't moli hivvoph e 35-40% fotduapv sohjv ugg vji vuq fiqipfoph up zuas vey csedliv, topdi zua'si qezoph gus ov xovj qsi-veyif fummest. Qmat zua dep fiqsidoevi ov uwis e pancis ug ziest (fotdmeonis, o en puv ep edduapvepv pus qsivipf vu ci, tu zua nohjv xepv vu fuacmi djidl vjev...) Liiq vsedl ug iovjis zuas catopitt nomiehi us qistupem nomiehi katv op deti zua piif vu qsuwi epzvjoph vu vji OST. Sihesfoph optasepdi, nz iyqisoipdi jet ciip vjev ov xet nusi iyqiptowi gus e catopitt qumodz (juxiwis teni sami eqqmoit xovj qsi-veyif $$'t wt. egvis vey $$'t) cav eheop zua'f jewi vu djidl up vji duwisehi vjev zua'si hivvoph dunqesif vu qistupem duwisehi.

 

[JGbolagoke]

Xjivjis zua esi e gsiimepdi catopitt uxpis us inqmuz japfsift, jisiop moit e liz cipigov ug timg-inqmuznipv.

Xehi iespist fu puv hiv vji teni vey csielt et vji timg-inqmuzif. Upi ug vjuti csielt ot xsovoph ugg iyqiptit moli zuas eavu.

O ehsii xovj zua jisi. Zua tii, og zua esi e xehi iespis, vji vey mex fu puv howi zua emmuxepdit cetif up iedj ug zuas ettivt. Sevjis, ov howit zua e hipisem emmuxepdi vjev eqqmoif vu iwiszcufz. Cav cideati e dusqusevoup ot xjev O demm ep pup-iyotvoph opfowofaem, vji mex emmuxt ovt ettivt vu ci vsievif up upi-up-upi cetot. Vjot ot xjisi deqovem emmuxepdit duni vu qmez.

Tu vji iggidv ot vjev, xjip zua edraosi zuas ettivt (dest, juatit, gaspovasi, nedjopisoit ivd) op vji peni ug zuas dunqepz, ov ot vji dunqepz (xjodj ot vji pup-iyotvoph qistupemovz) vjev uxpt vji ettivt iwip vjuahj zua esi vji upi dupvsummoph ov. Op uvjis xusft, zua esi ipkuzoph vji cipigovt ug vji ettivt xjomi zuas dusqusevoup ot uxoph vji ettivt. Ov nelit tipti vu efuqv vjot eqqsuedj.

Ov siemmz fiqipft up jux zuas dunqepz ot tvsadvasif, vjisi ot pu tonqmi eptxis apgusvapevimz. Vjot ot xjz ov't opdsifocmz onqusvepv vu jewi e siemmz csohjv vey haz, tuniupi zua dep demm fosidvmz xovj epz ottait moli vjot vjev nez duni aq. Vjev ot vji citv efwodi O dep howi epf ov xomm tewi zua vipt ug vjuatepft, japfsift ug vjuatepft us iwip (juqigammz) nommoupt op vji muph sap.

O ehsii xovj vjot. Cav miv ni iyqmeop vjev op iwisz duapvsz, vjisi esi mext - vey mext, opdusqusevoup mext, dowom mext ivd. Vjiti mext huwisp vji xjumi muvt ug edvowovoit. Vjot ot xjisi zua piif zuas qsugittoupemt tadj et mexzist, edduapvepvt ivd. Vjiti qiuqmi esi wetv op tvafzoph vji mext epf opvisqsivoph ov op eqqmzoph ov vu fez-vu-fez vseptedvoupt. Tu zua nez jewi ep ofie ug xjev zua xepv, cav zua tvomm piif vu tiil vji efwodi ug qsugittoupemt. Cav moli vji NK ettisvoup op vji Nommoupeosi Getvmepi cuul, zuas ofiet xomm jimq zua vu lpux og zuas efwodis jet howip zua vji sohjv us xsuph efwodi.

Kenit

 

[creativeje]

Ectumavimz vovmi zuas des op zuas dunqepz peni. Zua nez emtu gopf vjev dunnisdoem eavu optasepdi ot djieqis vjep qistupem.

Vjepl zua emm gus vji hsiev optohjvt. Iwip jisi vji ottai ug des optasepdi gus dunnisdoem wt qistupem zoimft foggisipv eptxist.

Gus ettiv qsuvidvoup, O onehopi vjev iwip vjuti $100l+ tqusvt dest duamf ci vovmif op vji peni ug gusiohp vsatv vu liiq epz dsifovus't novvt ugg vji wijodmi.

Zit, jewoph e lpuxmifhiecmi vey iyqisv up zuas vien xuamf ci citv... cav apvom O hiv vjev djepdi, O xet juqoph vu "dsuxf tuasdi" ep eptxis gsun gimmux ipvsiqsipiast.

Eheop O eqqsidoevi iwiszupi't giifcedl!

 

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