What John has said pretty well sums it up. The problem you can run into though is this - you own a company that does something including driving. Normally all you're guys run around w/ light trucks, but you buy an F350 under the company name to haul your toys on the weekend. No problem hauling the toys, but on Monday morning the 10,001 CGVW and it being owned by the company, on company business puts you into DOT land.

The DOT rules are tough to determine at best.
[/b]
What about owning it as an individual, renting it to the company and declaring the rental income to the IRS?

I'm not in this boat, just curious.