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S corp car situation...
Posted on 5/8/24 at 3:31 pm
Posted on 5/8/24 at 3:31 pm
i want to actually lease a care through my business instead of just deducting my mileage on my personal vehcle. i figured i can put a large payment down and get a nice comfortable payment going forward and write that off.
i was thinking of selling my camry for around 13k and putting that in our checking account and using my business funds for the down payment.
then i realized that if i do that i would not be able to run to the store, run errands or travel on my guy trips because none of that is business. that would be unethical.
so now im wondering if i should just keep my camry as a third car and use that when i want to do anything that isnt business related.
but then id have to pay for plates and taxes for the camry to possibly sit in the driveway most times.
am i thinking too hard?
i was thinking of selling my camry for around 13k and putting that in our checking account and using my business funds for the down payment.
then i realized that if i do that i would not be able to run to the store, run errands or travel on my guy trips because none of that is business. that would be unethical.
so now im wondering if i should just keep my camry as a third car and use that when i want to do anything that isnt business related.
but then id have to pay for plates and taxes for the camry to possibly sit in the driveway most times.
am i thinking too hard?
This post was edited on 5/8/24 at 3:37 pm
Posted on 5/8/24 at 3:48 pm to bleedsgarnet
Not that I don't trust Harry with financial advice, but you may want to cross-post this on the Money Talk board.
Posted on 5/8/24 at 3:55 pm to paperwasp
done..sorry fellas...move along..
This post was edited on 5/8/24 at 3:57 pm
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