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Understanding the Differences Between Company-Owned and Privately-Owned Vehicles for Expense Reporting

As a small business owner or self-employed individual, you likely use your vehicle for both personal and business purposes. But when it comes to reporting expenses related to your vehicle, it's important to understand the differences between company-owned and privately-owned vehicles. The Internal Revenue Service (IRS) defines a company-owned vehicle

IRS Fringe Benefits: Personal Use of Company Car

In the US, the IRS lists 4 alternative methods for calculating the value of the personal use of a company car.

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