truck title question

depends if your incorperated or a sole proprietor

 

Also depends on the loan paperwork as well.

 

Who applied and signed for the loan?

When the registration was done, what did they use?

 

There are options.

You can turn around and run a triple net lease agreement for the truck payment amount. The LLC then pays you the payment and you pay the loan.

The LLC is not really going to protect the assets if there is an accident.

When you are leased, the company you are leased should make the payments to the LLC.

I would strongly suggest you get an accountant versed in trucking involved before you go any further.

You are running around blind so to speak.

 

no, not if your driving it? they'll just sue you personally as the operator and not the owner.


I think I want ROadmedic to do my taxes. It's the one place i'm totally lost too

 

Personal assets are usually only protected when a company is held publicly. Close held corps & LLC's provide minimal protection to the owner. The main advantages for small companies are tax and credibility/accountability.

Depending on case law acceptance in your state, close held corps have been determined to essentially be the one and same as the owner. At one time they did provide some measure of protection, but that has changed, as many others, because of bad actions of less than honest persons.