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    Truck & Expenses

    Client, sole owner, stockholder of C Corp. engaged in construction. Has several
    projects & crews going simultaneously. Bought a new truck in his personal name,
    financed the entire purchase price, 0 interest rate, in his personal name. He
    is making payments on the truck through the company. The truck is used
    about 90% business.
    How would this be handled on the corporate books? Truck cost about $40,000.
    Thanks for all the help.

    #2
    I have used a lease back to the corporation. When in audit the agent asked why I handled it this way my respose was the ineterst rate was better.

    No section 179 though.

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