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Old 05-19-2008, 04:10 PM
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Auto Lease Expense

Tax Guru,
We are a C corporation.

The president would like to lease a car under the corporation.

1)Can we deduct the auto lease payment as a business expense?
2) Does any portion need to reported back to the president on his W-2?
3) Does the insurance have to be reported through the company or can we just have his personal insurance?

Thanks.

Arlene



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