Opinions please:
Client is a S-Corp and shareholder of S-Corp wants to by new vehicle. Shareholder might drive 500 miles per year that are business related, all the rest are personal. Under normal circumstances shareholder would have to include on her W-2 inclusion for personal miles driven. But, what if S-Corp buys new vehicle and then immediately takes it to a sign/graphics shop and has the entire exterior of the vehicle wrapped in those graphics that are advertising for the business? That way each mile driven by the shareholder is also advertising for the business, and is therefore not required to be included on her W-2.
Client is a S-Corp and shareholder of S-Corp wants to by new vehicle. Shareholder might drive 500 miles per year that are business related, all the rest are personal. Under normal circumstances shareholder would have to include on her W-2 inclusion for personal miles driven. But, what if S-Corp buys new vehicle and then immediately takes it to a sign/graphics shop and has the entire exterior of the vehicle wrapped in those graphics that are advertising for the business? That way each mile driven by the shareholder is also advertising for the business, and is therefore not required to be included on her W-2.
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