Purchasing asset under the business
Hi we have a unique business where we attend a lot of outdoor airsoft and paintball events and sell as a vendor. In that environment we often camp on the grounds and claim food and mileage. We have used an RV owned by us personally, but never claimed anything for it's use. We are in a situation where we need to purchase a new RV and I am wondering, since it is used exclusively for business, is it better to buy it under the business and have it as an asset or buy it personally and rent or lease it to the business? If we were to purchase as a business asset, can you rent out the RV for additional business revenue like we were doing personally before?
This Question Has Not Yet Been Answered.
