Personal Auto For Business Use. The pros of the use of a personal vehicle for business purposes. Personal auto policies don't cover vehicles used to carry people for a fee, like a taxi, limo or shuttle.
The benefits of a personal car for business use. Plus, without a proper log and evidence of business travel, you won’t be able to take a vehicle deduction when filing your taxes. The maximum fmv of a vehicle for use with this method is $51,100.
While it's preferable for vehicles used for business to be rented in the name of the business, this isn't always possible.
Ask your gdi insurance agency broker for more help assessing your company’s risk. If your business requires you to travel often or to drive for business purposes, consider the added protection of commercial auto insurance. You allow your employees to drive your. Though employees’ use of personal automobiles may pose a risk to your business, there are steps you can take to help protect both your employees and your business from.