A prospect has a commercial van that he claims is not used for business but is registered under his business' name for 'tax purposes'. He needs auto insurance for this van as his current company is dropping due to an accident. Two questions:
1. Outside of purchasing the vehicle, what would be the tax advantages of keeping a personal vehicle registered under the business?
2. If there are benefits for tax, wouldn't the potential lower cost of a personal auto policy outweigh the potential tax benefits AND having to purchase commercial auto only because the van is registered under the business
Source of insurance-forums.net
1. Outside of purchasing the vehicle, what would be the tax advantages of keeping a personal vehicle registered under the business?
2. If there are benefits for tax, wouldn't the potential lower cost of a personal auto policy outweigh the potential tax benefits AND having to purchase commercial auto only because the van is registered under the business
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