How to Place Your Vehicle in Your LLC (2024)

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Putting your vehicle under your LLC can be highly beneficial for a number of reasons. However, many people have no idea how to actually go about doing this. It is possible to put your vehicle under your LLC whether you bought it in your personal name, or whether you want to buy a new vehicle and put it directly under your business.

In this video, tax expert Karlton Dennis walks you through the process of transferring the title of a vehicle you already own to your LLC and buying a new vehicle through your business. He also explains all of the benefits of putting your vehicle under your business as opposed to owning it under your personal name.

Considering the fact that millions of LLC owners either already own a vehicle under their personal names or need to use a vehicle for business purposes, this video is extremely relevant for business owners. If you want to learn how to place a vehicle under your LLC to capitalize on all of the advantages of doing so, then this video is a must-watch.

CHAPTERS:
0:00 Intro
0:37 Transferring a Personal Vehicle to Your LLC
3:12 Buying a Vehicle with Your LLC
5:52 Insurance
6:25 Benefits of Placing Your Vehicle Under Your LLC
8:46 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

#businessvehicle #llc #taxplanning

[williamtudyjr]

This advice is “low key” how the rich stay rich and protect their assets. Working class people think their car is an asset. They dont understand depreciation.
Youre doing Great work. Much appreciated 💯

[SinkoMUSIC]

I have a hack for the dmv lol I recommend arriving at the DMV five minutes before closing. I assure you that you won't wait more than 20 minutes there because there are fewer people and the workers are eager for everyone to leave so they can go home.

[occ]

It’s like you sense people’s thoughts. Ur always spot on when a question pops up in my head. Thank you!

[davidgarcia-zdmw]

Great video, one note is when you "sell" your personal vehicle to your LLC it is a taxable event for you personally if the LLC is paying money for the vehicle, minor note but worth putting out there.

[maamateescookincatering]

Thank you I recently found out that I can’t put catering signs on my van because the insurance is personal vehicle insurance NOW I’m well informed as to what steps I need to take

[cathy]

Navy Fed requires that you must be in business for at least one year. The minimum value of the car to purchase must be $53k and you must put down 25% down.

[WRxJb]

Great advice, keep it up, looking forward to being a CPA

Sharing education is one of the greatest fulfillments!

[basimahknowshow]

I love your voice!
I see your mom videos all the time.
She said she was your mother abd she sell tax ahd budiness info just like you do.
So i asked her "r u related to karlton dennis?"
She said "yes, thats my son!"

How cute n thanks for your wonderful brain!

[melissakisamore]

We were literally just talking about doing this when your video came up. So helpful. Please keep making these.

[mymonthlytravels]

What about leasing a vehicle under your LLC?

[bngr_bngr]

I’ve seen people get car dealer license then create an LLC to put all their cars in that LLC.

[monicahughes]

so clear; like that you state what questions to ask and things to check into ahead of time.

[doug]

Can you do a video on what is the best way to deduct a vehicle purchase in 2024?
Bonus depreciation is only 60% in 2024, does it make more sense to purchase the vehicle in one LLC and lease to a 2nd LLC to write off the lease?

[Travelingchefmark]

Brilliant thank you so much, about to do this and didn’t have a clue. Appreciate you sharing !

[RiverBottomWarrior]

Clear, Concise, thanks for this Boss. Happy to have you creating content for us seeking this type of knowledge.

[ChokerTVMODIFIED]

Thank you for the info. Very well presented!!!

[Optimalasf]

Make a video about how to start an LLC as a stock/forex/crypto trader if you planning on doing it full time or if you still got a 9-5 and trading on the side. Also how the IRS classifies trading and investing into shares different for people who do both. Also about tax write offs for the business. Thank You 🙏

[RJReed]

This creates a taxable event called sales tax and I haven’t seen a lender that will allow that because they charge a higher interest rate for corp vehicles.

This only works when purchasing otherwise it makes no economical sense.

[coachcap]

Great video, very well informed, thanks for the info!

[Jah]

How do you take out a loan through your newly made LLC to buy a vehicle?