So to claim the depreciation ,does the car needs to on company’s name or it can be on owners name ?
Does company needs to have specific type of business to claim the depreciation ?
To my knowledge, the vehicle does not have to be in the company’s name to claim the tax deduction. As long as you meet the requirements set by the IRS you should be eligible to take the deduction. Check out our car depreciation guide for more info:
All the Best-
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