Registering your equipment to a separate entity that you own

If Yourcompany LLC is your corporate id the lease, registration(title) and EIN should match.

 

Yes it is done routinely, just like my wife is abc bookkeepers doing my paperwork. This is also common in brokering. It benefits mostly in taxes, somewhat in liability.

 

Can’t!

no matter what you try to do, you can’t make assets just en up at a dead end to avoid liabilities.

 

He wasn’t asking about making them disappear. It is quite normal tax policy to “shield” them behind secondary corporations.

 

A lot pf companies do this. ZXY inc is the mothership, they own XYZ Fleet services & Leasing, who leases trucks to XYZ Transportation Inc. the trucking company owns no trucks or trailers. All equipment is leased. The fleet services company owns all the trucks & the employees all the mechanics. XYZ inc owns both companies.

 

The one I bought was owned by a family trust . I’m sure it’s for tax purposes.

 

Not sure about the liability aspect but it can be a good tax strategy

It's basically a way to change regular income into rental income. You'll have to look into what it would cost to set up and maintain a separate entity then compare that to any tax savings

 

Or to cut people out. The guy my brother pulled for had a bunch of cattle trailers and a nice office and shop. When he passed last year his greedy step-son found out everything related to the trucking company was all in a trust for his biological grand kids.

 

I know what he was asking, and if you read about the part he said about lawyers, it isn’t all about taxes.

and the irs wants to they can cause a change to the structure with fines and penalties. They have an entire group of people sitting around looking at how taxes can be avoided, so as it may work for many, the few it won’t work.