Q: How does LLC registered as partnership write off car as business expense.
I have an LLC registered as partnership. Do I need to run payroll to pay the members? How to claim business expenses? Can I write off business car purchase as an expense?
A: Yes, as long as the vehicle is used for business purposes. It is highly advisable that title is taken in the name of the LLC and is covered by a commercial motor vehicle liability insurance policy rather than a personal one
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