3 years ago I've purchased an old RV to use (and still using) it as a mobile office and laboratory. A month ago I registered an LLC and now I want to transfer the ownership of my RV to my company.
The question is: should I sell it or just gift it?
I understand that if I sell it, my LLC would have to pay sales tax, which is OK if down the road, owning a vehicle by LLC would give better tax advantages to the LLC. It's a 1994 RV that costs about $8,000 today.
Whether selling or gifting, the goal is utilize all vehicle expenses as 100% business expense. I'm using it only for the business and being electronic lab, there are a lot of equipment being installed for the businesses purposes.
I can even keep it in my own name rather than LLC's if I can still write off all business expenses associated with the vehicle, including gas and maintenance, just like FedEx or a transportation company would do; rather than just the per mile option by using personal car for business.