Truckers Report Jobs

Find Trucking Jobs

Company Driver Company Driver Dry Van Dry Van Flatbed Flatbed Refrigerated Refrigerated Specialized Specialized Owner Operator Owner Operator
More Trucking Job Searches ⌄ Fewer Trucking Job Searches
⌃

Bill of sale and Title

Discussion in 'Trucker Taxes and Truck Financing' started by Xe18, Sep 9, 2023.

  1. Sep 9, 2023 #1
    Xe18

    Xe18 Bobtail Member

    2
    0
    Sep 9, 2023
    0
    I’m going to buy a truck outright from the company. Should I put my LLC under bill of sale and the truck title ? I’m new to the OO. Thanks
     
    Xe18, Sep 9, 2023
    Xe18, Sep 9, 2023
    #1 + Quote Reply
  2. Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

  3. Sep 9, 2023 #2
    xsetra

    xsetra Road Train Member

    4,831
    6,376
    Aug 21, 2011
    0
    That question is best answered by your tax accountant.

    For liability exposure, it doesn't matter, if you are the driver and owner.

    Tax liability it might make a difference. Company can depreciate against income before taxed. In your name, truck depreciation comes after taxed company income.
    Within the LLC and personal tax structure, the income follows thru to the personal income. So it may not make a difference using Federal tax code. Your state income tax may be a little different.

    Good luck.
     
    xsetra, Sep 9, 2023
    xsetra, Sep 9, 2023
    #2 + Quote Reply
  • Truckers Report Jobs

    Trucking Jobs in 30 seconds

    Every month 400 people find a job with the help of TruckersReport.

    • Draft saved Draft deleted