@CVegas wrote:
Addendum*
3. In the event that question #2 is not advisable or allowed, would it be possible for me to Lease the vehicle to the business? Are there any restrictions? Would you recommend this under any of the circumstances I have set forth?
Thank you very much for your continued assistance!
Again, you have reached beyond my expertise. I can only comment that if you leased the vehicle to the business, you must report the lease income as personal taxable income. It's not clear how you would come out ahead or even equal, in that situation. And if you arrange for the partnership to pay more than the fair market value for a comparable lease, your partners could again accuse you of taking more than your share out of the company.
