If you’re leasing a car that will be used for business purposes, I’ve got good news for you…
If you know the ins and outs of the tax law, there are three deductions you can claim that can save you big money.
Does this mean you have to spend time studying the tax code and all its rules and regulations? Not at all. We’ve done it for you and boiled all the money-saving information down into easy-to-understand language.
To find out how you can start saving money when you lease a car for business, don’t miss my new article titled Tax Tips: Three Often Overlooked Tax Deductions When You Lease a Vehicle.
Three ways our fact-filled article can help you:
- We’ll explain the “advanced payment” deduction. The first thing you can deduct is the leasing fee you pay up front. The only downside? Uncle Sam won’t let you take this deduction all at once. You have to amortize it. We’ll show you how when you read the full article.
- We’ll tell you how to take advantage of the “lease payment” deduction. To get it, first add up all your lease payments for the year, then multiply that number by your percentage of business use. The second step is a bit more tricky but we’ll explain it simply when you read the full article.
- You’ll learn about the valuable “operating expenses” deductions. We’ll list the magnificent seven deductions for you. Together they can save you a whole lot of money as you’ll discover when you read the full article.