Are you going to lease your next business vehicle?
Are you eligible to use IRS mileage rates?
If the answer to these two important questions is “yes,” then my new article makes must reading.
Why? Because Uncle Sam lets you choose between the IRS mileage rate or the “actual expense” method. And if you choose wrong, you can wave goodbye to valuable tax deductions.
Want to make a smart choice? Easy. Check out my new article titled Tax Tips: Does the IRS Mileage Rate Cost You Deductions on a Leased Vehicle?
Three ways our fact-filled article can help you:
- We’ll show you how to keep money where it belongs. In your pocket. Here’s the story short and sweet. If you use the IRS mileage rate on a leased car, SUV, or pickup truck, you’re likely going to come out a loser. There are three reasons for this as you’ll discover when you read the full article.
- You’ll learn why leasing is different than ownership. As an owner, you have some choices about how you handle depreciation on your taxes. If you lease, it’s a different game and you can become a big loser. We’ll tell you how to come out a winner when you read the full article.
- We’ll explain why the pain never ends. Your choice of the mileage rate on your leased vehicle gets set in stone as soon once you’ve filed your tax return. And there’s no going back to the actual expense method. If you want to avoid getting stuck in a bad deal permanently, read the full article.