Skip to main content
March 19, 2025
Question

Business Name vs. Personal Name on Property?

  • March 19, 2025
  • 1 reply
  • 0 views

Does it make a difference if I have my name on property (House, Car, etc.) if I'm using it for my business and want to claim this on my business returns? (Assuming a single owner LLC) Or do I need to have everything in the business name to claim it? 

1 reply

AmyC
Employee
March 20, 2025

No, for a single owner LLC, filing Sch C, the business property and income are all disregarded and considered as belonging to the individual. Claim your business office and vehicle miles along with your other personal expenses.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"