From: sftong2000@hotmail.com
Newsgroups: misc.invest.real-estate
Subject: Car Deductions under Real Estate LLC
Date: 2 Nov 2006 14:51:39 -0800
   posting-account=bNAl1gwAAAArETWO-CURrAc3lXuLUQK4

Hello, Thanks for looking, and I Thank You in advance for contributing
your suggestions.

I intend to set up a real estate llc. Since I anticipate I will make
numerous trips to the property to meet potential tenants and for
various business reasons, I think my car may qualify for a deduction.
Here are my questions:

1) I am looking to buy another used car after the llc is set up. Can I
deduct the used car for my business expenses? or only new car is
deductable?

2) What items are eligible under this deduction? Car Depreciation,
maintenance, or just a lump sum of $0.35/mile payable to me (the car
owner)?

3) What evidence would IRS require me to show them that the car is used
as business expense at a certain date and time?

4) Is there a better choice between Me VS The LLC as the owner of the
used car?  I heard if LLC is the owner, it would face more challanges
in getting the financing. Also, I will need to "re-imburse" the LLC for
any personal use -- getting more complicated here?

5) I also intends to spend some time at home to perform marketing work
for the rental property. Therefore, can I also claim my home office as
part of the deduction?

6) I heard that car deduction vary -- by weight (over 5 ton), by
luxury? I am looking to buy either a used lexus sedan, or a used camry.
Unless there is a good reason to buy large car, then I may consider a
minivan.

7) Will any of the above deduction scenarios be impacted if I were to
contract the rental property to a property management company?

Thanks for helping!
Shawn