- is there a benefit to putting the camper/rv under the business name? If this is not your personal residence then having it in the business name is the correct thing to do.
- If the vehicle's primary use is for business purposes - be it office space, making products, traveling to/from tradeshows(we have at least 15 different shows in 2024 we'd like to hit with a maximum of 35 on the list). another reason to have the vehicle in the business name.
- Obviously tracking every mile is important - is there downsides to doing this? You don't have an option ... you MUST track the mileage & all the expenses of the vehicle as the business must use the actual expenses option of reporting.
- Is a vehicle with a value of $6000-$15000 even worth putting under a business name? Yes ... it can be depreciated.
- what about maintenance costs & fuel costs? The business must report all the actual expenses for the vehicle listed in the business name... it cannot use the standard mileage rate.
