Posted by Tom Bazley, CPA on May 31, 2005 at 11:20:06:
Yes, the LLC can purchase a vehicle. Yes, you have to allocate between personal & business use.
Keep contemporaneous records.
LLC Purchases and tax write offs - Posted by Michael Schend
Posted by Michael Schend on May 30, 2005 at 13:53:46:
Does anyone know if LLCs that hold rental properties can purchase a vehicle which will be used for both personal and buisness purposes, and then take the tax write off each year. If yes, do they then have to allocate the percentages of buisness vs personal use?