Registering a personal vehicle under my trucking company?

Either way you can get sued. The only issue I see. Is making sure if you get audited. That you can prove it's a business vehicle and not personal.

 

You need to talk to your accountant.

My understanding is that in this particular business it's hard to have any other vehicle that you can legitimately use as a write off unless it's actually like a tool truck or service truck that is only used for you to get parts Etc things like that.

Honestly for something that you're going to use so infrequently that doesn't even go anywhere it's probably cheap enough to just tag it and insure it personally and not even be concerned with any of the other nonsense.

My F350 cost me about $400 a year or less in insurance so why bother with the hassle of even putting it on the company insurance? I only put about 2,000 miles a year on it if that.

 

Maybe this a little of topic but a while ago, I had an idea of leasing a pick up truck under my company and use it as a write off.
As a matter of fact, it would have done mostly the job of my commuting back and forth to the 1 truck and 1 trailer parking spot. Well, of course, I would not have had too many qualms about using it for personal use and fun but I was convinced not to do it as it would be a hard sell for IRS, especially in the context of a solo owner operator leasing a pick up truck as an accessory to his- one truck and trailer business... So it was about my daring them, which I decided not to do.
I think they want a meticulous record of every mile and can easily question and overturn the deductions and assess penalties.

As far as liability and getting sued and someone going after your personal assets, it would not do anything to prevent it for as long as you are the perpetrator of the harm doing. It would help if your employee were that person in which case your company is taking a hit, not you personally.

 

I'd keep it separate from the business. Yearly personal auto insurance with just state liability minimums will be very cheap.

 

Depending on state/insurance company, telling them that you plan on putting less the a couple hundred miles a year on it could drop your rate even more.

 

The auto insurance should have a low use rate.

Tell them that you are only home 5 days a month as you are a long haul guy so the vehicle sits, locked in the garage, for 305 days every year.

Oh yeah, buy a 'mouse blocker' or them little critters will make it stay parked forever.

 

My 2019 ranger is less then $900 a year to insure, also, I only write off 60% of it, because while I do use it for a lot of business, it leaves plenty of room for using it as a personal, and as much as I like write offs, having a disagreement with the irs isn’t on my list of things to do

 

One option to consider is to claim the vehicle as a rental vehicle under your corporation when you do your taxes. I have experience with this, learned it from a friend that's been doing it for 12 years and hasn't been audited. Might be worth asking your accountant about it.