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Business & farm
@jyeh74 wrote:Person 2 says because the car is owned by the LLC, everything that they do is expensed 100% to the business.
Just to clarify, only the business percentage of expenses can be deducted. If the vehicle has ANY personal use, that personal-use portion is NOT deductible, regardless of how the vehicle is titled. And I suspect it is extremely rare that a vehicle would have 100% business use.
‎December 3, 2021
9:45 AM