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May 26, 2025
Question

Personal auto deduction

  • May 26, 2025
  • 1 reply
  • 0 views

Do I need to title a personal auto in my PC's name to deduct partial business use of the vehicle.

1 reply

May 26, 2025

@nickdef1 wrote:

my PC's name


 

What is a PC?

 

How is your business taxed?  Sole Proprietor?  S-corporation?  C-corporation?  Partnership?  Something else?

nickdef1Author
May 26, 2025

PC is professional corporation. 

May 26, 2025

If you own the vehicle individually, generally the corporation would have an Accountable Plan with you so you get reimbursed for the business portion.

 

If the corporation owns the vehicle, the corporation deducts all of the costs, but then the personal portion is added to the wages of the employee using it.

 

Corporate taxes really are NOT a Do-It-Yourself kind of thing.  You really should be with a good tax professional that does a lot of work with corporations.