Every rental adds taxes and risk. We handle rental taxes, fleet depreciation and the coverage that protects your cars and your business.
Independent rental agencies and fleet owners work with our office for vehicle rental taxes, fleet accounting, financing, and commercial auto and liability coverage.
Reviewed by Orkun Ozkaymak, CPA, MBA·Clients in all 50 states and abroad
Car rental companies collect special state and local rental taxes, carry fleets that turn over quickly and face liability every time a customer drives away.
Our office keeps rental tax returns, fleet depreciation and your policy schedule in sync, so a sold car leaves your books, your tax records and your policy at the same time.
The areas that matter most to rental owners.
Vehicle rentals carry their own state and local taxes, and Illinois and Chicago area rules differ by location and rental length.
How we helpWe set up the right tax codes in your booking system and file every rental tax return on schedule.
Cars are bought, financed, depreciated and sold within a few years, and each sale creates a gain or loss for tax.
How we helpWe track each vehicle from purchase to sale so depreciation and gains are right on your return.
Every renter is a new driver, and claims, deductibles and damage waivers all affect your margins.
How we helpOur agency shops fleet coverage and helps you understand which risks to insure and which to price into rentals.
Fleet loans and seasonal demand make cash flow uneven.
How we helpWe build a cash flow view in QuickBooks so you can time purchases and sales with confidence.
Tax, accounting and insurance under one roof, so the numbers on your return, your books and your policies all agree.
The recurring deadlines car rental companies face most often. We track them for you and send reminders before anything is due.
Dates shown are for calendar-year filers. When a due date falls on a weekend or holiday, it moves to the next business day.
Your QuickBooks tracks each car from purchase to sale, so utilization and profit per vehicle are always visible.
Our office sets up QuickBooks Online with a chart of accounts designed for your industry and your entity type, mapped line by line to your tax return. Your books are ready for filing season all year.
Illinois has automobile renting occupation and use taxes, and many local governments add their own rental or lease taxes. The rate depends on where the rental happens and its length. We set up and file the right returns.
Rental vehicles are business assets and can use Section 179, bonus or regular depreciation. Because cars are sold often, the plan should account for gains on sale. We plan it with you.
Yes. Our agency works with multiple carriers and can quote fleet auto, liability and property for independent rental operations.
Request an insurance quote, or start your company with our office. Prefer to talk first? Book a time, virtual or in person.