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How do I deduct reimbursed car mileage through my S corp?
how do I deduct reimbursed car mileage through my S corp? Did I have to pay myself in 2018 for the car mileage reimbursement to qualify? Thank you Pearl! … read more
emc011075
emc011075
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I am a member of an LLC that files as an S corp. I was
I am a member of an LLC that files as an S corp. I was looking to buy a car through the business and use it for personal/business use. My question is Can I use the fair market value and lease valuatio… read more
James Daloisio
James Daloisio
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I'll try to make this simple. My 100% owned LLC owns 25% in
I'll try to make this simple. My 100% owned LLC owns 25% in a multimember LLC. in 2018 the 25% ownership was the bulk, if not all of the income for the 100% owned LLC.The K1 is issued to ME, personall… read more
Lev
Lev
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Bachelor's Degree Equivalent
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If I deduct tax for mileage for my s-corp, can I claim it if
If I deduct tax for mileage for my s-corp, can I claim it if someone else drove my truck for my business as a non-business owner? Would there be any difference?… read more
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James Daloisio
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LLC entity that files on schedule C reimbursed one of their
LLC entity that files on schedule C reimbursed one of their independent contractor for monthly car lease. Is that a deductible expense for this LLC? Or they must to include it on either 1099-Misc or W… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
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If I'm an llc classified as an s-corp and I do my personal
If I'm an llc classified as an s-corp and I do my personal taxes with the premium version of turbotax, is there anywhere I can still deduct mileage and/or the cost of my vehicle used for business purp… read more
DK_CPA
DK_CPA
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Master of Science in Accounting & Taxationb
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I have a new LLC and have a question. My vehicles lease and
Hello - I have a new LLC and have a question.My vehicles lease and insurance are currently under my personal name. However, I use the car both for business and personal. How do I go about deducting th… read more
Richard
Richard
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I have "engineers" who's responsibility is to go to clients
I have "engineers" who's responsibility is to go to clients to address issues. However, when NOT going to a client, they come into the home office or work from home. About half of these employees have… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
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I have a question about vehicle expensing, After 10 years in
After 10 years in business I plan on electing S Corp status for my single member LLC. For 10 years now I have claimed actual expenses on my schedule C for business use of my personal vehicle. Under the S Corp I'm not sure how I will handle these expenses since I won't be filing a Schedule C anymore but rather paying myself a salary and doing a separate S Corp tax return and individual tax return. … read more
Robin D.
Robin D.
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I am a pizza delivery driver for Domino's Pizza. I work 40
I am a pizza delivery driver for Domino's Pizza.I work 40 hours a week and am provided $1.00 for use of my personal car for each delivery I make. (In addition to hourly wage and tips)I typically drive… read more
emc011075
emc011075
Tax advisor and Enrolled Agent
Bachelor's Degree
4,718 satisfied customers
I have questions regarding 179 deduction for LLC with
i have questions regarding 179 deduction for LLC with multiple partners.If I purchase suv under my individual name will I be allowed to take 179 deduction.For the standard mileage I usually just turn … read more
Mark Taylor
Mark Taylor
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I am filing a 1065 partnership return with my wife for the
I am filing a 1065 partnership return with my wife for the first year of her retail toy store. My tax software states I cannot deduct auto expense on 1065 but must reimburse myself for mileage. Can I … read more
Mark Taylor
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Hello I have a tax question. I co-own a dog walking business.
Hello I have a tax question. I co-own a dog walking business. Basically I provided all startup costs, a couple thousand dollars. I do all the accounting/business paperwork, my girlfriend does all the … read more
CFEPro789
CFEPro789
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I am the owner and employee of a C-Corporation. I drive my
I am the owner and employee of a C-Corporation. I drive my personal owned vehicle 100% for my business. (If I drive anywhere personal I take the family car). What auto expenses can my company reimburs… read more
Megan C
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I have a part time job that they 1099 me. I use my own vehicle
I have a part time job that they 1099 me. I use my own vehicle for this job and i drive about 1600 miles a month for this job. Can i claim theses miles on my taxes? And will the amount of miles i driv… read more
Lane
Lane
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Doctoral Degree
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I formed a c-corp in 2010. I do a lot of driving with my personal
I formed a c-corp in 2010. I do a lot of driving with my personal car for business. For 2010, IRS allows $0.5/mile standard deduction for vehicles used for business purposes. As the end of 2010 approa… read more
CGCPA
CGCPA
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I recently filed my taxes and was due a refund. I contacted
I recently filed my taxes and was due a refund. I contacted the IRS and they said that the reason why I haven't received it is because my return is under review. My tax preparer file a schedule A when… read more
Merlo
Merlo
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I am in the process of starting a new company with a group
I am in the process of starting a new company with a group of investors. My job will include a great deal of driving and the company will provide a company car. What rules should I be aware of regardi… read more
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Ed Johnson
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