Vehicle Registered to an Entity & Expenses

[Francis D'Aurora]

Asking for a friend? 🤫 Since he doesn’t have a CPA yet, he asked me to post here. Where are my RE CPAs at? How crazy is this idea? Could this work? My friend works for a company that pays him an allowance for the use of a personal vehicle for work related activities. My friend also gets reimbursed for fuel on said work errands at half the federal mileage rate. My friend also just formed a single member, home-based, LLC and wants to upgrade to a new vehicle. Can both companies “pay” for the vehicle in this situation below? Could my friend purchase the new vehicle registered to the LLC while taking the allowance from the “day job” to make the finance payments? Could the “day job” errands be expensed on taxes? Could my friend also slap on a couple magnets with ads for the LLC and expense the miles driven from/to the LLC home office to/from the “day job” as mobile advertising? I’ve already told him to get a CPA. LOL.