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Ok, now that i am LLC.... i want to buy a truck??

OKIEMIKE

LawnSite Member
Location
oklahoma city ok
Can somebody give me some advise...

I have been doing lawn care for a couple of years, and now this year i am getting a little more serious... I went AND GOT LLC.

I want to buy a truck to pull my trailer, what do i do.. Buy it under the company name and tag it as commercial? I know i would have to have higher libility ins. but does it make it easier for a write off?? Can i buy it under my name and still write off?

any help is appreciated

Mike
 

AzLawnMan

LawnSite Senior Member
Location
Glendale, Az
The ideal thing to do is put it under your company name. But banks always want at least 2 years in business and 2 years company tax returns. Otherwise your gonna have to put it into your own name and lease it back to your company. We have been in business for 20 years this June and I still have to personally guarentee any credit I get.
 

Bob_n_weave

LawnSite Senior Member
Consult your CPA. If you don't have one get one.
 
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