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Can I Purchase a Car Through My Business?
Manage episode 375118445 series 3501738
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In this episode, I discuss the tax implications of buying a car through your business. I explain the importance of the 50% rule and how it affects accelerated depreciation. I also touch on financing and insurance considerations when titling a vehicle in the name of your business. Additionally, I highlight the need for proper record-keeping and the availability of Section 179 and bonus depreciation. Watch this video to learn more about maximizing tax savings when purchasing a vehicle for your business.
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#BusinessVehicle #TaxDeductions #IRSRegulations #BusinessDecisions #VehicleInvestment
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