I just recently formed an S-Corp. My question which I have yet to dicuss with a tax advisor nor have I been able to find out much info on is about vehicles. What are the requirements for the business to purchase a vehicle? Is it better for the busness to actually purchase the vehicle? Are there advantages or disadvantages of the business purchasing it vs personal vehicle for business. I am so confused and hope someone can shed some light on this. TIA.

If you want to make it a business purchase, it has to be over 6000 lbs to qualify as business expense. Until couple of years ago, Hummers were also considered a business vehicle because they are over 6000 lbs., but that's no longer the case, sorry

I wasnt considering a hummer..actually i think they are ugly but was considering a gmc acadia or a chevy trailblazer

mainly because of gm card discount

Well hopefully I did what gives me the best benefit taxwise but I got a fully loaded

2007 TrailBlazer SS 3SS. It is 6001 lbs so I assume everything will be fine.

Congrats!!!

Wait, did I just give you the go-ahead to get a big-ass car?

I already had plans to buy one and I had been told of the weight issue..sucks though cause the covettes sure looked nice although this has a vette engine.

What made issues a bit different for me was the corporation being the purchaser vs individual.