As an S corp employee/owner, I have a personal vehicle that the entire purchase price has already been written off when I was a sole Prop. However I use the vehicle 100% for business. Can I have the Corp reimburse me for actual expenses such as Insurance, maintenance, gas? Or can I only use the mileage method?

In fact shareholder/employee who drive a vehicle for business purposes generally may benefit more if they own the vehicle personally and submit expense reports for reimbursement.

In fact, they can employ the regular Standard Mileage Allowance. In this manner, there is no apparent inputed income to the shareholder for personal usage, and the company has a legitimate business expense to deduct on its books.

Alternatively, the Corporation can use "the actual expense method" where the actual cost of Vehicle Insurance, Vehicle Maintenance and Gas expenses incurred by the shareholder/employee are reimbursed by the Corporation.

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