Company Truck - Posted by Sheik
Posted by Sheik on May 03, 2000 at 07:06:40:
I have an LLC (partnership with spouse) that owns about 4 small notes at the moment totaling aprox 15K (resulting from lonnie type deals).
I am currently looking to purchase/lease a used pickup truck. I, of course, would like to have my LLC purchase/lease the truck.
My question is - Since the LLC does not have substantial income, I am wondering whether it is a good idea for the LLC to be the owner of the truck. I mean, does the LLC have to “justify” purchasing/leasing a truck?
Also, if the LLC is the owner, can I write off the total cost(payments) of the truck or do I still have to do the mileage thing ( I will be using the truck for personal commuting as well)