Work truck for sole proprietor?

[rothwem]

A work vehicle would be pretty useful to me, and since section 179 allows for full depreciation of the vehicle the first year if its a truck with a bed >6', I'm probably going to end up with a 4 cylinder Tacoma or Ranger.  My business is setup as a sole proprietorship.  A couple questions:

-Can I finance the vehicle in my name?  [Personal] car loans are so cheap these days, its like free money.  And I think I can write off any interest I pay too, right?
-Do I register it to me?
-Do I insure it to me?

[chasesfish]

Yes to all three.

The IRS really doesn't care about the loan until you're incorporated, then you can just do a double entry (you borrow money, loan money to the company, company pays you, you repay loan).

Insurance I think you're fine as long as you're a sole proprietor.  That's a better questions for your insurance agent, commercial insurance is usually 2-3x the cost because of miles driven.

[NeonPegasus]

We bought our work truck as a personally owned vehicle. We have personal insurance because it's way cheaper than commercial. Instead of depreciating, our accountant has us record mileage and take that deduction instead. That has been more beneficial financially. I'd check with an accountant for their recommendation.