Decide on a company vehicle
First 90 days: Build credit and a home base. Step 16 of 24 in the new LLC launch playbook. A vehicle you use for work can be a real tax benefit, but only with good records. Talk to your accountant before you buy.
Key points:
- Decide whether to buy or lease, and whether it should be in the LLC's name or yours. Each choice changes insurance and taxes.
- Keep a mileage log for every business trip: date, where, why and miles. Apps make this easy.
- For 2026, the IRS standard mileage rate is 72.5 cents per mile for January 1 to June 30, and 76 cents per mile from July 1.
- Instead of the mileage rate, you can deduct the business share of actual costs (gas, repairs, insurance, depreciation).
- Heavy SUVs, trucks and vans over 6,000 pounds gross vehicle weight follow different depreciation rules. Ask your accountant how that applies to you.
- Get commercial auto insurance if the vehicle is used for business.
Must have: Mileage log. Ask first: Your accountant.
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