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December 11, 2008
Perhaps oddly, general “feelings” surrounding the stock market, such as positivism and pessimism, tend to have a measurable effect on the value of stocks. A general peculiarity is that, in the past, the discount at which closed-end-company shares sold has generally been larger at low levels of the stock market.
Dec
11
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Horaayy..there are 3 comment(s) for me so far ;)
To write-off (depreciate) a car under an LLC, does it have to be bought in the company’s name?
I wanted to buy a vehicle using a supplier discount. The discount only works for a purchase made by me. However, I plan to use this vehicle for business use with my own LLC. I am the sole owner/manager in the LLC.
Am I still able to write-off the asset depreciaton on the vehicle under the LLC, even though it is titled and registered to me instead of the company? Or must the purchase be made in the company's name?
It depends on the elections you made when you created the LLC. If you elected to pay taxes as a partnership, you may be able to get away with it. If you elected to pay taxes as a corporation, this may not work.
But what's preventing you from buying the car yourself and transferring it to the company as a capital contribution?
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Also, unless you are not using very many miles, the standard mileage rate might give you a bigger deduction than dep and expenses. especially if you keep the car for more than 3-5 years…
References :