RE: how do you claim expenses as BUSINESS expense?

[Makiko]

Can we claim expenses as business expenses even if we pay them with our personal credit cards?   We started TURO under our new LLC.  However, our vehicle registration as well as our car insurance are still in our individual names.  Can we claim some of the auto repairs/ maintenance as business expenses?  OR do we need to switch registration and insurance before we can claim some of the expenses as a business?  

[rferreira 1]

You can deduct business expenses that you paid with your personal money.  However, make sure you keep detailed notes in a ledger or bookkeeping software.  It would be wise to open a business account ASAP and start using that for your income and expenses.  You can continue to use your personal vehicle for business, but make sure you keep a mileage log to notate the date, beginning mileage, ending mileage and reason for the trip.  The mileage log is the first thing an IRS agent will ask for if you ever get audited.