Updated over 6 years ago on .
Most recent reply
presented by
How can I buy truck for my rental LLC?
I have six rentals that all I lease, manage and repair and I need a pick-up truck. I went to a bank to get a car loan but the bank is not able to give me a loan as I do not have 2-years of tax return on the LLC name. Thus, I am taking car loan on my ssn instead of LLC's EIN to use it for my rental business. Can I now transfer the truck title on my rental LLC and then LLC to make monthly payment to me as business expense? How else I could handle this so I can get tax benefit? Thanks