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Other benefits of LLC???

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  • Other benefits of LLC???

    What about my car?  I live about 1 mile from my office.  The two hospitals that I cover are about 8 miles apart(one is next to my office, the other is 8miles away).  Can I buy a car through my LLC and write of the cost as an expense? Is there a limit to what I can list as an expense?  I know I can pay for my home internet and phone because I use them for work.  Are there other things that I can list as business expenses?

     

     

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    What about my car?  I live about 1 mile from my office.  The two hospitals that I cover are about 8 miles apart(one is next to my office, the other is 8miles away).  Can I buy a car through my LLC and write of the cost as an expense? Is there a limit to what I can list as an expense?  I know I can pay for my home internet and phone because I use them for work.  Are there other things that I can list as business expenses?
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    No, sorry, you would not get any bigger deduction by using an LLC. If you are paid as an IC, you should be able to deduct your mileage from your office. You can deduct actual expenses or mileage. See Should My Business Own My Car? and Get the Most Tax Deduction for Your Car.
    Working to protect good doctors from bad advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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