So not to beat a dead horse, but wondering if anyone has some insight on a slightly different topic.
First off, I'm a small business owner. I've never leased a vehicle because, well - this will be my first vehicle I purchase while owning my own business. But I've never done it personally because I keep cars for a while. I feel like it's throwing money away.
But in this case, I'm looking in to leasing the MS through my business for obvious reasons. Unfortunately, I don't drive a ton for work, so it may not be as advantageous as I'd like. Plus I'm losing $7500 for tax credits. So I have to do the math and see if it really works.
To the question at hand - I have two friends that have company cars from LARGE companies. Neither was instructed to keep a mileage log, neither was told they can only drive the car for work.
Thoughts? We're all told we have to keep mileage logs for the IRS (Which I do as I take the IRS mileage expense). But how do these big companies do it?
First off, I'm a small business owner. I've never leased a vehicle because, well - this will be my first vehicle I purchase while owning my own business. But I've never done it personally because I keep cars for a while. I feel like it's throwing money away.
But in this case, I'm looking in to leasing the MS through my business for obvious reasons. Unfortunately, I don't drive a ton for work, so it may not be as advantageous as I'd like. Plus I'm losing $7500 for tax credits. So I have to do the math and see if it really works.
To the question at hand - I have two friends that have company cars from LARGE companies. Neither was instructed to keep a mileage log, neither was told they can only drive the car for work.
Thoughts? We're all told we have to keep mileage logs for the IRS (Which I do as I take the IRS mileage expense). But how do these big companies do it?