When you use a vehicle for business purposes, the IRS gives you two options for deducting associated expenses. You may use what’s known as the standard mileage rate deduction, or you can opt to use the actual expenses deduction. You can swap from standard to actual expense from year to y...
For others, it’s about the benefits of ownership. In general, leasing works best for someone not ready to commit to a specific vehicle or who may enjoy getting a new car every few years. Buying is usually the better financial option since the borrower builds equity and eventually owns the...
Purchasing a vehicle in the name of the business may afford the owner more protections Benefits of Buying a Car under an LLC For business owners, buying a car in the name of the LLC can be a great business move. However, the vehicle must be for a legitimate business purpose before puttin...
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app. Its model is built on two main arms of business: sales and finance. This makes its app a space to explore vehicles in your area based on price, mileage, make, model and fuel efficiency. The app also allows you to apply forCarMax vehicle financingor check out vehicle history ...
Buying a car is naturally more expensive since you have to pay the entire purchase price of the vehicle. However, once you pay off your loan, your payments end. Any equity you have in the car can be used toward the purchase of a new car. In many cases, your sales taxes are higher ...
It is a good idea to talk with a tax professional who understands your specific financial situation before making a lease versus buy decision based on taxes. You should not rely on the vehicle salesperson, as they may be an expert in selling cars, but they’re probably not a tax profession...
Carfax can be an indispensable tool if you’re selling your car privately. The main benefit of using Carfax is that you can get an official vehicle history report for your car, which will list the number of owners, previous accidents and major service records. Having a printed Carfax report...
BEIJING (AP) — The Chinese owner of Sweden's Volvo Cars is buying a stake in truck manufacturer AB Volvo, expanding a portfolio of vehicle brands that includes shares in Malaysia's Proton and Britain's Lotus. Geely Holding Group said Wednesday the acquisition of shares from Cevian Capital...
Ex-rental cars: These cars must pass the official vehicle inspection (ITV) 2 years after purchase instead of the usual 4 years for a new car. Many people don’t know this and it can invalidate your insurance if you have to make a claim and the car hasn’t passed the ITV. If the ...