Posts by feralcyclist10

How do I write off the full sales tax if the title and registration stay in my name instead of the LLC?

I'm trying to figure out if there's some kind of lease agreement I could sign with my own company to justify the expenses.

My gut says I can't claim the whole tax deduction, and honestly, I don't think there's any legal loophole that wouldn't get me wrecked by an IRS audit.

Selling my car to the company is a total non-starter—can't transfer ownership because the bank’s holding onto the title until the loan is fully paid off. And trying to mess around with mileage logs? Too much of a headache. What I really need to know is if there's some loophole in a lease agreement where the company can dodge 70% of the sales tax on a new vehicle purchase? The invoice would be in the company's name, but since I'm the CEO, my name is still on the title.

New here. If anyone knows their stuff, I could use a hand.

Here’s the deal:

I set up an LLC, but after fighting with all the big banks and leasing companies, I just decided to buy a car in my own name using a personal loan.

Question:

Can I actually draw up a lease agreement between myself (as an individual) and the CEO of my own company?

And is there any way to write off the sales tax, or at least claim the gas, registration, repairs, tires... all that stuff as business expenses?

Thanks.