I work for a mid-level fashion company and just decided to open up my own small business e-commerce retail fashion store.
I'm curious as how to maximize my benefits as a new small business owner. Specifically…cars.
I have 0 income as of now in my LLC but plan to go live within the next 2 weeks. I want to lease a new car and from research it seems as if cars over 6000 GVWR have greatest benefits as a tax deduction (which will be perfect for me since I will be shipping out lots of boxes and picking up new products, etc.)
However, since my business income is 0 (as of now) how do I take advantage of this? Do I have to wait to go live and start producing income before I go off and lease? Or would it be incurred as a start up cost?
Not sure if these things matter but personal credit score is floating around 760-770 monthly and have a pretty decent income in the ($100k+ range in Los Angeles)