Best advice for S corp payments

[Dan5]

Corporation was paying directly to vendors for car actual expenditures for business use during the year. However, truck was owned by the employee, shareholder 100% owner.

1. How should I treat these payments? What about depreciation of the car?
2. Can accountable reimbursement plan reimburse employee for actual auto expenses plus depreciation or you need to use standard mileage allowance method?
3. Should shareholder sell truck to corporation or transfer for stock?

[Matt Sova]

Auto expenses

The company can reimburse for actual expenses. If the company paid 100% of the expenses and the vehicle was only 80% biz use then he has a taxable event.

[Dan5]

What about depreciation

Depreciation Question.
You need to own asset to be able to depreciate it. However, when standard mileage allowance method is used then depreciation is imputed. If accountable reimbursement plan plan using standard mileage allowance method is used, then it would seem that employee vehicle could/ should be depreciated?