Leasing to myself

Railroads do this, lease rolling stock to themselves under other railroads names that the same parent company owns. Its for tax write off reasons.

 

Seperating will be beneficial for tax purposes. As far as liability what I learned when I formed my LLC was that since I am also the driver my personal assets are not very well protected in case of an accident because they can go after the driver (me). Might be the same in a larger sense that while the two companies are seperate the drivers are still connected to your parent company. If you go after the driver you can work your way back to the deepest pocket.

 

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What he said..

 

I know of one company that does that and done it for years one brother owns the trucking company and name and sister owns the leasing company they get there trucks from but like stated before get your lawyer and cpa involved good luck hope it works out for you

 

To answer your question - yes it is done more often than people think but it is done not for liabilities (like accidents) but to lessen the tax burdens related to certain states.

I will tell you this in all seriousness, ignore all the advice here and get a lawyer and an accountant who can set this up for you and teach you how to run it. Any advice given could be wrong in your situation so the advice you need is from someone who is educated and knows the laws to step around the mines in the mine field.

 

Don't do it! All leases are a scam!

Well someone had to say it.