I’ve seen conflicting info on this in a few threads. I have a sole proprietor LLC, I drive a lot for work and almost all my driving is for this purpose in my vehicle. My business is new (<1 year old) and my personal credit is stronger. I have significant profit for the year and learned about section 179 and bonus depreciation. I am planning to purchase a lot of equipment for my business, but also am purchasing a new vehicle this year.
Regarding the vehicle, can I purchase a vehicle in my name (rather in the name of my LLC) and still claim section 179 and bonus depreciation (provided I meet the requirements for business use)?
Interesting. I need to talk to my tax attorney about this. Would be a huge help for me this year.