Registering a personal vehicle under my trucking company?

I had a couple vehicles that I recently moved out of the business. Early on it seemed nice to have the tax benefits, but over time I felt like the extra liability increase outweighed the benefit. That’s been my experience.

Even my F350 but I do drive it pretty much everywhere unless the wife and I are riding together. What if on a whim we went out for dinner and did drive the truck... drank 1 beer but it’s Applebee’s and theirs are tall... then you get in an accident on the way home in a business vehicle. I’m not open to those type of risks anymore.

 

You’re only saving the tax on any write of
So if say you are at 25% tax bracket then you write off $1000 per year you’re only saving $250

I don’t write off any home office for that reason and it can be a red flag for an auditor and an easy violation if you don’t have everything right

To me on a cheap vehicle the juice isn’t worth the squeeze

 

Unless you do actual revenue production with said vehicle. Its best to keep in private name.

 

I care less about saving the money and more about funding an out of control bully.