Shakespeare asked… “What’s in a name?”
Murray Bradford answer… “A nice tax deduction!”
That’s right. As you’ll learn in my new article, you can create big tax deductions for your business just by knowing whether to title your car or truck in your personal name or in the name of your corporation.
How much money is involved? Well, you can generate hundreds or thousands of dollars of extra tax savings if you know the rules of the game. You’ll find those rules spelled out in easy-to-understand language when you read my new article titled Tax Tips: Don’t Put Your S Corporation Vehicle Title in the Wrong Name! It Could Cost You Thousands in Tax Deductions!
Three ways our fact-filled article can help you:
- We’ll explain how to make an important decision. Your S corporation calculates deductions differently depending on who owns the vehicle. That means you should run the numbers in advance and decide which form of ownership will maximize your deductions. We’ll show you how when you read the full article.
- We’ll tell you why corporate ownership can cost you money. When your S corporation owns your vehicle, you get a 100% deduction for actual expenses. Sounds good… but it may not be! You’ll find out the downside of corporate ownership when you to read the full article.
- You’ll learn how to handle corporate ownership the right way. If you do decide to put the title of your vehicle in your corporation’s name, you need to do some advance planning to avoid paying unnecessary payroll taxes. We’ll tell you how to figure things out when you read the full article.