



By N2H

Owning a 4×4 for a Business

February 13th, 2009 by Justin

If you own a business and require a vehicle to tow or haul items to perform services or plain operate your company, there are a few things to consider. Trucks, SUV’s and even Jeeps can be great tools to help you run and even grow your business. Whether you are a construction contractor, run a lawn service company, catering or just a plain wholesaler, you can benefit from owning a 4×4 for your business.

Here are some tips to consider.

Choose a 4×4 Vehicle that is Right for Your Company
Many owners make the mistake of choosing the 4×4 that is their dream truck or SUV, but might not be right for your company. Keep in mind that the vehicle must be able to help you conduct business easier- so while you might want flashy, sometimes it’s better to go for reliability and functionality.

Talk to an Accountant Regarding Tax Implications
As a business owner, you can receive tax deductions for using a vehicle. This can include deducting the cost of operating your vehicle and maintaining it. While you can easily view the implications on the IRS website, it is always good to talk with an accountant to see where owning a 4×4 for your business fits into your overall portfolio. It should also be noted that there are benefits, as well as disadvantages on buying or leasing, due to tax laws, so this is another area where you should research.

Insurance, Registration and Licensing
Besides tax implications, your business vehicle is usually much more different than a passenger car or truck. If you are using your 4×4 for a business, insurance is usually affected, as well as registering your vehicle at your local Division of Motor Vehicles Bureau. For larger vehicles, your state or municipality may even require a special driver’s license, so do plenty of research before you buy.

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