Business owners are always looking for more ways to maximize their deductions so that they can lower their taxable income. Today, a client asked whether it is a good idea for him to sell his personal vehicle to his LLC (limited liability company). In order to maximize your auto deductions, there are many factors to consider including the type of vehicle you plan to buy, your business usage percentage, whether you would prefer to use the mileage method or the actual expense method. In this video, we provide further explanations of what you need to consider to maximize your auto deductions. If you need further tax consultation, do not hesitate to contact us @ 832 795 9612 or email us at email@example.com.
Tax Tips 101: How do I maximize auto deductions?