re: S corp car question..

quote:

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then i realized that if i do that i would not be able to run to the store, run errands or travel on my guy trips because none of that is business. that would be unethical.

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you are supposed to log your personal miles or business miles and then pay the company back for personal use. there are a few methods of determining what this would be.

another thing to think about is that your business insurance coverage on the vehicle may be way more expensive than you think. You may want to quote that out and see how it falls. I would consult with your business insurance agent and cpa to find out what makes sense.