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Business & farm
Thank you Alicia for trying this is very close. Is "Other Expenses" for vehicles a good entry point or do you suggest another?
Here's what we do, Husband's car goes 400 miles for weekend trade show. Husband provides the vehicle and fuel. If $0.50/mile, then husband contributes $200 additional funding to business to increase his %, and business expenses $200. Does that sound okay?
So the husband owns a little more of the business but the business doesn't have the $200 as if it paid it for use of the car. Similar as if husband contributed $200 to Business and Business leased a $200 vehicle.
March 5, 2023
5:00 PM