What do I have to do? Simply lease under the business name and deduct it? Drive on my own insurance or insurance through the biz?
-
-
Lease under business name and business insurance -
You got to do all thru the companyComment
-
Nice, how do you guys handle gas, oil changes? Mix it up on the company account? Gas cards?Originally posted by tony404Comment
-
I purchased the car through the company. I then pay for all gas, insurance, repairs on my personal credit/cash but we keep a log of all driving activities and receipts. At the end of the year, we figure what percentage was used as a business expense and what was personal and cut me a check for the business amount (since everything was paid for on my personal line of credit).
WGI play with Google.Comment
-
u dont have to do it through biz....u can do it personal and have your biz reimburse you the cost of car, insurance, gas, etc.....Comment
-
Originally posted by WiredGuy
But everything I do in my life is business related. From the breakfast I eat to meeting friends at a bar, it ties into my business in some form or fashion. I am NOT going to write down the mileage every time I get in the car, i can pay cash for gas and not deduct if its that hardComment
-
and personally deduct my car???Originally posted by LilBroComment
-
If you are buying a car that will be used towards a business you need to keep mileage logs. How does the government know the car is 100% used for business? You need proof, just like a receipt, a mileage log will do that.Originally posted by detoxed
WGI play with Google.Comment
-
If you can not keep the paperwork then dont take the deduction.Originally posted by detoxed
Despite the fact that you think everything you do is business related in some way. Your good ole Uncle Sam has much different thoughts and rules.
Personal is personal and business is business. Not to mention leasing is a hell of a lot more difficult tax wise with at home businesses than mileage and usage compensation.Comment
-
So.. when a company leases a car for its employees, you are telling me those employees write down every mile they drive? I think not. How do they do it?Comment
-
So I guess writing (mile #1 to mile #7038 = Business trips) wont work?Originally posted by WiredGuyComment
-
Its more like: Mile X -> Mile Y, Office -> Bank (Deposits). You should be stating the business purpose, start and end milage and which employee did the driving if not you.Originally posted by detoxed
WGI play with Google.Comment
-
The little milage books they sell in office supply stores are pretty self explanatory.Comment
-
I want some more opinions... I know that when a CEO is leased a car by the company that hires him, he does not write down his own fucking mileage on every trip.Comment
-
And be sure to pay the lease using your company account!Originally posted by SpunkySIGGY COMING SOON!Comment
-
The CEO is also expected to not use it for personal use and if they do they are to write the information down.Originally posted by detoxed
CEO's also typically do not work from home, and thus use the car primarly to get to and from work and meetings during the day.Comment
-
Originally posted by detoxed
His secretary does...
If you want some level of comfort, I have a company car and I've been audited and it all passed through and they did request the mileage books...
WGI play with Google.Comment
-
you gotta find a way
BigCocks.com -
MatureWomen.com -
Tranny.com -
DrunkGirls.com -
TeenGirls.com -
MonsterCock.com and
many more... Click
here to see them all!Comment
-
If you use your personal car for business you need to keep track of 4 things.
1. Total Miles
2. Personal Miles
3. Commuter Miles
4. Business Miles
Even if you intend to itemize your yearly costs of the vehicle ie gas receipts, repairs, oil changes, ect you need to be able to detail the percentage of business to personal use of your private vehicle.Email: fenris_wolf3000 (a t ) yah00 . c 0 m
Comment
-
well i dont plan on working from home much longerOriginally posted by After Shock MediaComment
Comment