Is it best to purchase a car under the business name or my personal name? I plan to use the vehicle for 95% business use.

ANSWER

Expert Mark Anderson's Answer:

If you are using the car for business, then it is probably best to purchase the car through your business if you have a corporation or LLC.   If you are sole proprietor, then you legal buy the car in your name.  Your business name is just an asset of your business.   You will need to make sure you document the business use or miles for tax purposes.   You may also want to check with your insurance company to make sure it is insured for business use.   I hope this answers your question. 

Mark Anderson, JD

Montana

21 yrs experience

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