Hello. My CPA advised me that transferring the ownership of my financed car to my LLC and having the payments deducted from my business debit card could be beneficial. However, after conducting my own research, I’ve found that many people believe it might not be a good idea and could be quite cumbersome.
Could someone clarify whether transferring my vehicle ownership to my LLC is advisable? Will I be able to deduct the full amount of my car expenses as a business expense when it’s time to file taxes?