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Jimmy Drives a Company Car for Acme Corp

Question 45

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Jimmy drives a company car for Acme Corp. Acme Corp. leased the car from Toyota for three years. Jimmy drives to and from work but also uses the car to take his kids to soccer practice three times a week. Will Acme Corp be able to claim depreciation on the car or tax benefits for the mileage?

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A leased car typically doesn't qualify f...

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