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Updated about 6 years ago on . Most recent reply presented by

User Stats

64
Posts
40
Votes
Thomas Wang
  • Rental Property Investor
  • Broomfield, CO
40
Votes |
64
Posts

How can I buy truck for my rental LLC?

Thomas Wang
  • Rental Property Investor
  • Broomfield, CO
Posted

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

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