LLC leda S-Corp open chesi, car konte use enti?

[no01]

Chaala mandhi business peru meeda kontaru ani vinna...daani valla depreciation ni write off cheyyochu antaru..ante enti? assalu useful ah leka leni poni headache ah while filing taxes or future audits?

[Hitman]

You can reduce your profits by depreciation value to save taxes. Also all fuel , repair spending can account as company expenses 

[DuvvaAbbulu]

6 minutes ago, Hitman said:

You can reduce your profits by depreciation value to save taxes. Also all fuel , repair spending can account as company expenses 

 

11 minutes ago, no01 said:

Chaala mandhi business peru meeda kontaru ani vinna...daani valla depreciation ni write off cheyyochu antaru..ante enti? assalu useful ah leka leni poni headache ah while filing taxes or future audits?

Andhuke meatris buy expensive cars

 

[ForEverJava]

Yes I also changed the ownership individual to company name..they just ask for srticle of filing that's all..also if lease on company name u can write of lease payments for company expenses I guess.

[AverageDesiGuy]

LLC , You can only take lease. Go for s-corp.

[beginner]

I heard there is another adv of this.

If the car's weight is over 6000 lbs, then you get tax exempt. 

[megadheera]

You can take out the whole amount from you income and depreciate the car over 4 years. The car GVWR should be more than 6000lbs. The example cars Benz GLE, GLS, Audi Q7, BMW X7, Volvo XC90, Land Rover Discovery, Range Rover. You can google for more 

[KrishnaDevaRaya]

how much does it cost to create the s-corp and process? Please show some light.

[vaakel_saab]

s-corp, yearly minimum amount emanna run cheyala? incase H4 EAD job pothe etla ani thinking

[Captain_nd_Coke]

S corp ki gc undali ani annaru.. some cpa's say its fine some say no.

So llc is the only way I believe if on h4 ead

[vaakel_saab]

28 minutes ago, Captain_nd_Coke said:

S corp ki gc undali ani annaru.. some cpa's say its fine some say no.

So llc is the only way I believe if on h4 ead

ok.

As per this, LLC is the way to go

https://www.investopedia.com/articles/personal-finance/011216/s-corp-vs-llc-which-should-i-choose.asp#toc-s-corporation