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I am a sole proprietor of a business and i want to purchase
hi i am a sole proprietor of a business and i want to purchase a company vehicle and take advantage of irs 179. lender wants to put the title as my name and dba. … read more
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I was wondering if it's better to lease a car or buy a car
Second Opinion] i was wondering if it's better to lease a car or buy a car for tax deductions … read more
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I currently lease a building for a childcare center(S-Corp).
I currently lease a building for a childcare center(S-Corp). I am in the process of buying the building and should be closing in a few weeks. I am setting up a LLC to hold this property. What type of … read more
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What is the most tax-adventitious purchase or lease
What is the most tax-adventitious purchase or lease situation for a strictly work vehicle? I am open to all options. This will be a new cargo van, financed, no personal use whatsoever. I am a sole-pro… read more
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We converted from sole proprietorship last year to S corp
We converted from sole proprietorship last year to S corp (single owner) as of Jan 1 2014 As a sole proprietor in 2011 I purchased a vehicle that was used for business and elected section 179 (all cos… read more
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I started an S Corp and am the sole shareholder. I purchased
I started an S Corp and am the sole shareholder. I purchased a car which is used 100% for business purposes. I put down a deposit and took out a loan for the remaining balance. Can the Corporation rei… read more
Barbara
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I am leasing (I do not have title to the vehicle) an automobile
I am leasing (I do not have title to the vehicle) an automobile (not a truck) in January 2015 in the name of my 100%-owned S Corp and use it 100% for business (I have another vehicle for personal use)… read more
Lev
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I am the sole shareholder and employee of an S-Corporation.
I am the sole shareholder and employee of an S-Corporation. I have a vehicle I leased in my own name, and use a portion of it for business. I maintain mileage logs and all the necessary documentation.… read more
Lane
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Background: S Corp with one shareholder; The Corp. owns a
Background: S Corp with one shareholder; The Corp. owns a vehicle that the sole shareholder uses and Corp. deducts 100% of all expenses; The shareholder wants the Corp to pay all expenses on personal … read more
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My wife is the owner of a dance school. In January of 2012,
My wife is the owner of a dance school. In January of 2012, the business entity became an an LLC. My wife's vehicle is used 95% for business purposes. We would like some guidance on the following... 1… read more
Robin D.
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My client was advised to incorporate her existing restaurant
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PDtax
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In 2009 I ran a van pool and wanted to know if I can take the
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Megan C
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I transferred from a sole proprietor to an S-corp with 100
I transferred from a sole proprietor to an S-corp with 100 percent ownership. The vehicle I had as a sole proprietor was fully depreciated. I did not transfer the vehicle to the s-corp name but still … read more
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100% business use of leased car with existing personal car. milage determines how muc
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I have started a corporation. Can I lease my automobile to
I have started a corporation. Can I lease my automobile to the corporation to cover the payments ..so that it can be expensed? i have an S corporation ..opened june 22 2010 ..small business ...i have … read more
Anne
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I purchased a Smart car (personally) that I use for my 2 pizza
I purchased a Smart car (personally) that I use for my 2 pizza stores. The stores make the payments on the car loan. How do I account for this on my 1120-S tax returns? The car has also has been wrapp… read more
Lev
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Can someone PLEASE give me an illustrative example of how the
Can someone PLEASE give me an illustrative example of how the "Lease Value Rule" (IRS Pub.15B) would work based on the following factors: Vehicle is owned the S-Corporation. ALL vehicle expenses are p… read more
Anne
Anne
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S-Corp Automobile expense question Im a shareholder of a
S-Corp Automobile expense question: I'm a shareholder of a two-man S-Corp. We each lease passenger autos personally (under 6000 lbs) and run all expenses through the S-Corp, i.e. lease payments, insur… read more
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