[rodmotoe]

I own a used car dealership which is a single member LLC. I use a vehicle that is titled to the dealership for business travel and also for personal use. I do not own a personal vehicle. How and what kind of deductions do I claim for this vehicle for business and do I count the use of this vehicle as income (fringe benefit) and how do I determine how much income? Thank you

[AtlantaTaxExpert]

The LLC is a business entity, not a tax entity. To properly answer your question, we need to know how you treaty the LLC tax-wise.

If you treat it as a "disregarded entity", then it is a sole proprietorship, in which case you in fact own the vehcile, and its use is NOT income. You can deduct the business use as a deduction.

If your LLC is a corporation, then you probably need to consult with a tax professional with corporate tax experience to determine if the vehicle use is considered income.