How To Lease A Car In Your Business Name [STEP-BY-STEP]
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- เผยแพร่เมื่อ 8 ส.ค. 2022
- Lease a car in your business name. We're walking through the steps, how to get insurance, how to lease a personal vehicle. Whether it's for Turo or to meet clients, here's how your business can lease a vehicle.
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
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Wow, this is a very detailed video. Most TH-camrs don’t provide the steps to do something. They only hype you up, or make you mad with a really long video that turns out to be nothing. This is not only detailed, but he is excited and always smiling. That in and of itself, is motivation!
hANDS DOWN! This is, if not the best video that explain thoroughly into a topic/subject/point. Shout out to Lyfe Accounting for their influencers and consultants and others. You guys are awesome!
How you making out in the field?
You have a new subscriber! Thank you for the video and the step by step explanation.
very detail, great explanation, smooth tone!!!
Today I had learn so much with you guys ! Thanks for your knowledge 👍🏼
Thank you for these nuggets
Hello I’m hispanic and your explanation is perfect
Thank you so much for your patience and comprehension to understand this is very important for business
well done guys thank you for the info!
Best video out there, thank you.
Thank You for the information
Great video!!! Do you think you'd be able to do a video walking us through the last part? A car that was personally leased and then a new lease signed between yourself and your business.
Thanks for the information
EXCELLENT!! It's the best video I have seen yet, on leasing a vehicle in your business name! Very well articulated without being annoying 🙄. Thank you😊
Excellent video!✊🏽
your a good teacher
This video goated 🐐
Corporate lease for apartments next ? Business rents with its ein and the owner inhabits, of Airbnb hosts sublet is more popular but I was looking for the former
I'm gonna try this
Good stuff. Thank you. Is there a network where i can find a workshop or cpa for beginners. Starting a photo booth company with zero, trying to do things right.
Thanks for the video. I’m planning on starting my chauffeuring gig and was planning on getting rid of my personal car… but if I’m using the work car for both work and personal (mostly work though) how would I factor in the maintenance done just for the work part?
I like how slow you talk to us, so we can understand))
You are awesome!! Very detailed and informative. Are you a tax accountant ?
Excellent
Does this apply to s-corp too and what about putting a house lease or ownership in your business name?
So can you write off the lease and the fuel? You did not mention gas/diesel
How you do it is buy the car.i. Your name and register to the business and pay the notes for 6 mos then do a business transfer
Are there certain car brands that are better than others for leasing through business name / entity ?
I want to confirm your last point. I’m able to get into a binding lease agreement with myself and Business correct? And this is good enough for the IRS….
Hey! The IRS does not enforce contracts. They want to know that you accurately reported all income and that deductions you claim are both ordinary and necessary for your business. You and your accountant/CPA will need to make that determination. Hope that helps.
Does this work for brand new llc?
Would you do a video on how to create the lease to transfer your vehicle from your personal name to your business name? Is there a template we should use?
I would like to see this too. I have 4 clients that have asked if this is possible.
Have you figured this out? Thank you!
Following
can I lease a truck in the USA ? and how much money can I get in a year ?
Does this all apply to buying vs leasing? If not would love a video about buying for a business vs leasing.
Hey, yes. Nearly everything applies to both except for the specific part regarding going out and getting the lease.
Can you do a video on how to transfer personal car to business name?
Ight so how about this. A 1yr old business, consistant income in a checkings acct with $10k. DnB score 70, Business Experian is 50, business Equifax 400… is it possible to get a car in ya business name WITH them checking your score???
How do you determine (and prove, if necessary) the % used for business?
Great question. You need to track your mileage for business compared to the mileage used for personal. Can use phone apps to help.
So if I get the vehicle lease in my business name, I can't write off 100% of the lease payments? Even though it's the entity itself that is has the lease and not me personally?
No car is free no matter what u do. Those looking for a write off of 100% never drive enough miles. Remember a write off is lowering your taxable income. Also it depends on your business. Would it make sense for an insurance agent to lease a car through an llc? Or a delivery driver or mobile car wash to lease a car? The insurance agent won’t get anywhere near an 100 percent write off. You can’t lie about the amount of miles driven just to get a 100 percent write off. They will find out it’s all updated through the cars manufacturer computer
Great video! What expenses associated with the lease can be written off?
Thanks for watching! If using the actual expense method, all expenses mentioned based on the business use % (including the lease payment).
Lease must be a standard lease and not lease-to-own to use the actual method. Hopefully, that helps.
@@LYFEAccounting and what if you own the vehicle all ready
Like did y’all watch the video!?
SO DO THE BUSINESS OWNER HAVE TO HAVE GOOD CREDIT TO DO A PG?
Um. Yes
Yes and no if you have decent credit,but you have business revenue it balances it out
How to lease your personal car to your business . Mind you the car is bought and registered in the name of the director since the company did not qualify for finance but now you use it for your business
Speed to 1.25
👏🏽👏🏽👏🏽👏🏽👏🏽
is my personal credit score important if I provide a pg?
tHATS WHAT I WANT TO KNOW , BUT tHATS WHAT I ALWAYS RUN INTO?
Thats what a pg is. You are using your personal credit to guarantee the loan. What else would a pg rely on? One’s good word? 😂good lord 🤦🏼♀️
@@angelarohr7161 … it ain’t even take all that 😒
@@Gods_Reprieve_ it did…especially since he’s addicted to big white thighs 😂
Yall need to hit like!!!! 11k people watching and only 850 hit like!?!? 🤷🏾♂️ thieves....😅🤣
That's still a personal.guarantee
Talk to slow
Talk faster, your slowness made me up the video speed to 1.5
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