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New Member
posted Jun 3, 2019 6:13:29 PM

Do I need to title my car in the LLC name in order to write off depreciation costs?

0 3 1188
3 Replies
New Member
Jun 3, 2019 6:13:31 PM

If your LLC is single-member (or husband & wife in a community property state) and you're reporting income & expenses on Schedule C as a disregarded entity, then the vehicle does not have to be in the LLC name for you to take depreciation.  In effect, you are the LLC for tax reporting.

New Member
Jun 3, 2019 6:13:32 PM

I live in Virginia - is this the case?

New Member
Jun 3, 2019 6:13:34 PM

What are you asking?