What are the tax advantages of purchasing a company car for single member LLC?
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The main reason that a single member LLC would buy a vehicle through their company would be depreciation and company deductions for mileage, insurance, etc. that you might not be able to take as an individual tax filer. One precaution though - don't buy an expensive car hoping to deduct a lot. For 2018, you can only write off up to 10K in depreciation, and up to 8K more in bonus depreciation. But that is the cap. You may also consider writing off the depreciation over a series of years (over the life of the vehicle), giving you a smaller write off initially, but a consistent one each year. Its a decision you and your Tax Specialist should discuss. Hope this sheds some light.