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Old 01-08-2013, 03:27 PM
inzane's Avatar
inzane inzane is offline
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Join Date: Jan 2012
Location: SouthEast
Posts: 2,230
putting truck in the business name?

i paid off my 07 silverado today, finally.. Is there gonna be any advantages or disadvantages of having it put in my business name?? i've been planning to get it into the business name as soon as it was paid for.
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Old 01-08-2013, 05:39 PM
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grandview (2006) grandview (2006) is offline
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Join Date: Jan 2006
Location: Lancaster N.Y.
Posts: 3,480
All depends on what state your from. some cases you can title it over. In NY I would have to get it appraised first then re register it ,then pay sales tax on the value of it.
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Old 01-08-2013, 05:55 PM
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show-n-go show-n-go is offline
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Join Date: Nov 2012
Location: cincinnati,ohio
Posts: 231
Might be better to sell it to your business, have the business make payments.. Talk to your CPA they should be able to tell you what you can and can't do.
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Old 01-08-2013, 07:23 PM
jbell36 jbell36 is online now
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Join Date: Feb 2008
Location: KANSAS
Posts: 1,244
keep in mind if it's in your business name and everything goes south or you get sued your truck can be taken from you, but not if it's in your personal name...

would be nice to deduct payments/expenses from the business though...
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