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arkvalleyinfo
October 16, 2018
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Service vehicle repair and maintenance

  • October 16, 2018
  • 2 replies
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We have a service truck that we do repairs to. We use this truck for road calls and to go pick up parts. My business repairs trucks and trailers, How would I record a repair to my service truck in my books?

Best answer by qbteachmt

If the business owns the truck (LLC or corporation on the Title), then this is an operating expense. You enter this as Auto Expense.

If you want to Track it, then set up your own truck as a Customer Name and assign this for expenses and even timesheet entries. It is not billable, of course :)

2 replies

qbteachmt
qbteachmtAnswer
October 16, 2018

If the business owns the truck (LLC or corporation on the Title), then this is an operating expense. You enter this as Auto Expense.

If you want to Track it, then set up your own truck as a Customer Name and assign this for expenses and even timesheet entries. It is not billable, of course :)

A
arkvalleyinfoAuthor
October 16, 2018
What about if you're a sole proprietor and this is your primary vehicle?  This wouldn't be considered a Auto Expense then would it?
qbteachmt
qbteachmt
October 16, 2018

"What about if you're a sole proprietor and this is your primary vehicle?  This wouldn't be considered a Auto Expense then would it?"

There are two many Variables for how the tax regulations for Vehicles apply, in the US, to the different entity types. In general, a Mixed Use (personal and business miles) vehicle means you don't report Actuals as business expense.

Your "primary" vehicle is not one of the Tax Rule tests, in other words.


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