Friday, February 28, 2014

LLC question? limited liability corp? -

if someone owns a LLC can they buy vehicles in the LLC name.. and if so..can family members drive or operate vechiles owned by the llc if they are not employees of the LLC... thanks

Can the LLC buy a vehicle? Yes.Can non-business use mileage be put on the vehicle? Yes.Is this a deductible as a business use of the vehicle? NO. Will the IRS have a problem with it? YES.

As long as they are listed on the insurance policy I don t see a problem with it. I would ask the person who owns the business though... If the family member gets in a wreck, the LLC may be liable...

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