What are the pros and cons of having a businessowned vehicle versus a personallyowned vehicle?

In this episode of the Small Business Tax Savings Podcast, Mike dives into the often confusing and overwhelming topic of business vehicles. From selecting, buying, and maintaining a car for business use to proving business use of a vehicle to the IRS. Mike offers up his expertise on how to make sure you’re getting the most out of your vehicle when it comes to tax deductions.

Mike covers the pros and cons of having a businessowned versus personallyowned vehicle, as well as tips for determining the business use percentage and tracking mileage.

Tune in now and listen as Mike shares his advice on how to select, buy, maintain, and write off a car for business use!

00:00 Reimbursing Yourself As a Sole Proprietor or Single Member LLC
03:45 Reimbursing Yourself As A SCorporation or CCorporation
05:36 How to Set Up An Accountable Plan
12:30 Closing Segment

______

Podcast Host: Mike Jesowshek, CPA Founder and Host of Small Business Tax Savings Podcast
Join TaxElm: https://www.TaxElm.com

IncSight Packages: https://incsight.net/pricing/

Book an Initial Consultation: https://app.simplymeet.me/o/incsight/...

Podcast Website: https://www.TaxSavingsPodcast.com
Facebook Group:   / taxsavings  

To find out more on this topic and many others visit our website at www.TaxSavingsPodcast.com.