Real quick, my wife owns a S Corp. I’m a minority stakeholder. We gross about $300k a year through it.
We have an RV that we used to use for family trips, but now only use it for the business. We use it when we head to shows and markets. Its an old classic RV, draws a lot of attention, and worth about $25k on comps. Its well over 9000#
Since we are only using it for business purpose, i’d like to depreciate the expense through the business, including ownership.
Can our business “pay” the owner (me), for the vehicle and offset that cost as a depreciating expense? We could always register the vehicle in the name of the business. The additional commercial insurance expense would be strongly offset by the tax reduction
Have you considered just renting it to your corp? Could be done indefinitely compared to a sale.
This is what I was going to say. You can treat it as a rental expense per event and charge basically whatever you want. I do this either a truck and trailer used for hauling race cars. Every weekend it goes out for the business the business pays me a rental expense.