Anyone have any advice on leasing a car and writing off the payments for tax purposes?

Discussion in 'Accounting and Legal Advice' started by kehk05, Mar 17, 2008.

  1. kehk05

    kehk05 New Member

    Aloha! I need to get a van and was thinking of leasing it and writing off the monthly payments since it'll be used for my business as well. Am I able to write off the entire monthly payment or a portion of it? Does anyone have any suggestions on how I should go about doing this?

  2. mountainmom5

    mountainmom5 Gold Member

    I would ask my cpa on it as it will probably depend on how much you use it for business. I know if you put a magnetic sign on the side as an advertisement, you can deduct most of the payment...

    Also go to as there is a lot of info on there for small business deductions.

    Welcome, by the way![​IMG]
  3. mountainmom5

    mountainmom5 Gold Member

    ...if you put before and after your link it will make it clickable...[​IMG]
  4. kehk05

    kehk05 New Member

    Thank you for the information! I really appreciate it. [​IMG]
  5. dmitch31

    dmitch31 New Member

    Please come back and let us know what you find out. What you are about to learn could be useful for all of us.


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