Hi all! I am trying to purchase a business vehicle that weighs more than 6,000 lbs. to get the section 179 write off for my business income this year. I have found lots of information about it online but I'm confused when it comes to the specifics of the auto loan.
I am a sole proprietor, I do not have an EIN#. What I am reading online is that the loan has to be done in the business name - I do have a business name, but not an EIN - so do I attempt an auto loan with my social # and the business name or just my name?
Also, we were actually planning to do the loan in my husband's name since he has better credit than I do. Is that going to be okay since we file our taxes jointly? Do I have to make the loan in my name or can I just later register the vehicle in my name or business name?
Thanks for any help!
