A $50,000 Company Car Writes Off $12,180 in Year One — Not $50,000
A $50,000 passenger car used 60% for business yields a $12,180 first-year deduction under IRS caps, not the full purchase price promised on social media.
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Depreciation
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A $50,000 passenger car used 60% for business yields a $12,180 first-year deduction under IRS caps, not the full purchase price promised on social media.