Car leasing and depreciation question

May 05, 2011 1 Replies
S

I see quite a few business / self employed folks lease cars. I wonder what the advantages are.



Could it be that:



  1. they can write off the lease payments AND

2, Write off the depreciation too.

( FAS 13)



If the above is possible, then the write offs could be quite large.



Please let me know your thoughts on the above.



Thanks



Irfan Smith


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A

Except for the lease inclusion amount.

For example, see

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And if it's not 100% business, you would pro rate.

No, sorry.

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