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Hello-

I'm wondering about our small business buying a car.

Specifically buying one of our personal cars currently used 95% for the business.
I'm thinking this would reduce the tax burden quite a bit, by moving money without having it be "income".
We (personally) own a 2000 Honda Accord that is paid off.

Should I sell the car to our business?
Is it better to buy/lease a new car (and sell the Honda elsewhere)?


-Ken

FAQs:
The business currently does not own a vehicle.
We do home based therapy services.
There are personal vehicles available for non-business use.
The company can pay cash.
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