|
Here are two important questions for
every S corporation owner:
1.
Does your
corporation own your business car?
2.
Do you drive
your corporate-owned car or other vehicle for personal purposes?
If you're answering
"yes," it's important to know how the IRS treats the personal use
of your vehicle and how that personal use affects corporate tax deductions.
Knowing the rules can save you a lot of money as you'll discover when you read my new article titled How Your S Corporation Gets Tax Deductions for the Corporate Car. Three ways our fact-filled article can help you:
1.
We'll
tell you what to do if you own over five percent of your corporation. Do you own over five percent? If so, the
personal use of your corporate car is not a qualified business use for the
corporation. This "nonqualified use" has no effect on the W-2 or
reimbursed value of your personal use but it can bite you
in other ways. You'll get all the details when you Read the FREE article.
2.
You'll
learn how to compute the value of your personal use. Your corporation doesn't calculate the value of your
personal use based on the cost to the corporation. Instead, the law requires
that your corporation use one of two methods. We'll tell you what they are
when you Read the FREE article.
3.
We'll
explain what to do about your W-2. Should your corporation put the value of your personal use of
the corporate car on your W-2? Or should you reimburse the corporation for
your personal use? You'll get straight answers when you Read the FREE article.
To get started, CLICK
HERE. You'll get a no-obligation 7-day
FREE trial during which you can read, not only the article I mentioned above,
but all of our helpful tax-saving tips from the last two
months. This trial is absolutely free and there are no strings attached.
That's a personal promise.
Sincerely,  W. Murray Bradford, CPA
Publisher
|
Tuesday, May 7, 2013
Two important questions for every sub s corporation owner
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment