LLC Vehicle Rules

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Topic Author
BajaMig
Posts: 37
Joined: Sat Jul 28, 2018 1:01 pm

LLC Vehicle Rules

Post by BajaMig » Sat Jul 13, 2019 9:13 pm

Good evening,
My rental property manager's private vehicle was recently totaled and I considering converting my personal vehicle which is old, but reliable and in good condition into the LLC's vehicle which my property manager can use for work. Questions:
1. Any unforseen tax disadvantages to doing this?
2. Do I have to "sell" the vehicle to the LLC or simply transfer the title?
3. Will a vehicle have to be insured under the LLC's name?

Thanks!

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