LLC asset transfer or not?


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Jun 27, 2012
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My new client bought 3 work vans last year under his own name, not under his LLC (sole member). He did this because he didn't know any better. He uses the vans 100% for work and treats them as business assets. He uses his LLC bank account to purchase gas, tolls, all auto expenses. I don't think these qualify as LLC business expenses because the auto isn't owned by the LLC.

Should he transfer the vans to the LLC? If so, what to do with business auto expenses prior to the transfer?

thanks!
 
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