Do you write off Car purchase under your RE LLC?

[Kadia Lawrence]

Hi Everyone,

I am about to purchase a car and will be using it for both personal use (e.g., grocery shopping, gym, etc) and definitely for RE business (scouting neighborhoods, seeing listings, visiting properties for maintenance/ tenant issues). Have you generally bought a car under your LLC holding or operating LLC? If not what write off opportunities have you used? I was thinking along the lines of tracking my travel time when doing RE business and tracking miles and then writing off gas bills? Any thoughts appreciated

[Chris Seveney]

@Kadia Lawrence

One of the Fastest way to get audited is buy a vehicle with a LLc

Also note your insurance costs etc will be much higher since the llc will own it. Your insurance costs also will go up significantly

Best to buy a car and track mileage using one of the apps available