First 90 days: Build credit and a home baseStep 17 of 25
Decide on a company vehicle
A vehicle you use for work can be a real tax benefit, but only with good records. Talk to your accountant before you buy.
- Decide whether to buy or lease, and whether it should be in the LLC's name or yours. Each choice changes insurance and taxes.
- Keep a mileage log for every business trip: date, where, why and miles. Apps make this easy.
- For 2026, the IRS standard mileage rate is 72.5 cents per mile for January 1 to June 30, and 76 cents per mile from July 1.
- Instead of the mileage rate, you can deduct the business share of actual costs (gas, repairs, insurance, depreciation).
- Heavy SUVs, trucks and vans over 6,000 pounds gross vehicle weight follow different depreciation rules. Ask your accountant how that applies to you.
- Get commercial auto insurance if the vehicle is used for business.
Must haveMileage logAsk firstYour accountant
This playbook is general information, not legal, tax or financial advice. Rules change, so confirm details with a licensed professional. Last reviewed September 2026.