I have a Single Member LLC that I just requested to be taxed as an S-Corp. I am looking to take advantage of Section 179 and/or Bonus Depreciation for a vehicle that I will purchase this year (2023) and use for the company. The vehicle will be an SUV at or above the 6,000 lb. requirements. My questions are: 1. Must the vehicle be purchased, not leased? 2. Does the vehicle title, financing, etc., have to be in the LLC name, or can it be purchased personally by the single member of the LLC? 3. For 2023, Bonus Depreciation is reduced to 80%. Is there a way to increase this to 100% by leveraging both Section 179 and Bonus Depreciation? 4. Business use will be at least 85%-90%. How can I maximize the deduction?

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