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Good evening. People do this all the time thinking that if this is done through the name of the business it automatically makes it 100% deductible even if not used for business. The issue is what percentage of the car is used for business and what is personal use. If the lease is in the name of the business...and it is used only 60% for business, then the 40% should either be reimbursed by you or deemed income to you.
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