deductible expenses of car which is not owned by business

[cl2019]

taxpayer bought a new car under his own name and used 90% of it for his business. My question is
1. can he use actual expense method for car expenses rather than simple mileage method if the car is not owned by the business?
2. the car was paid with down payment and the rest is under lease arrangement. If actual expense method is allowed, what will be the total cost basis for the car? The down payment or total car price?
3. since the car is under personal name not business name, can taxpayer use section 179 deduction and 100% special depreciation allowance?
4. also want to confirm that as listed property, the car can be depreciated using DB200 method.

Thank you so much!

[Lee B]

There was a lengthy thread about this topic several months ago.

1. You don't mention the kind of legal entity, which matters

2. No, no, no, no

3.  The easiest way to straighten this out is for the taxpayer to go back to the lessor, have the title transferred to the business and the leasing paperwork redone in the business name.

 

[Abby Normal]

I usually just keep the car in the personal name and have the business pay the owner mileage, assuming it's not a sole prop.

Any excess car expenses, including lease payments, are distributions/draws.

[cl2019]

Thank you all for the quick response. 

The entity is a single member LLC treated as disregarded entity. 

[DANRVAN]

2 hours ago, cl2019 said:

The entity is a single member LLC treated as disregarded entity. 

Then he and the company are the same entity for tax purposes.