• Last Updated:
  • Sep 4th, 2013 11:07 pm
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Sr. Member
Aug 15, 2013
881 posts
419 upvotes
Guelph

car lease transfer

We own by 2 companies, 1 on the wife's name and the other on mine, they both run separate food franchise business.

We had a car on lease bought in 2011 on the wife's company. And late 2012, we sold the franchise which my wife's company owned, but still have the company even though there's no business under that company anymore. So my question is how can i get to claim the car lease as a business expense on the existing business owned by me. I do use it for my business.

I mean can i add her as a partner or can my company buy my wife's company and in turn its assets/obligations or can we transfer the ownership on my company's name or any other easier and cheaper alternative that does the job. Please mention approx. cost for any alternatives you suggest. Thanks.
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