William-01
Level 1

Good Morning Group,

I have a scenario that I could use an opinion. A car that is used 100% for business, does it make sense to sell the vehicle to the company, simply for the purposes of increasing business assets?

Or since the company is a Sole-Proprietorship, is it just best to deduct the vehicle properly, according to IRS tax law, based on percentage of business use, and not fuss with the title transfer, etc.

Best Regards,

 

0 Cheers