Buy or Lease new car for business-best tax advantages? (loan, expenses, IRS) - Economics - City-Data Forum

golfgal · 10-12-2008, 06:33 PM

I know, call my CPA, but besides that, is one better then another for business write-offs? The car would be used probably 90% for business use. Is this one of those "there are too many variable" type things you can't answer? We are just starting looking at new cars for me and since lease prices are less then loan prices-it can make a difference what car we look at. Is buying outright a better idea?

Woof Woof Woof! · 10-12-2008, 07:01 PM

buy a car that you can afford to pay cash for. That's you're best advantage.

Driller1 · 10-12-2008, 07:32 PM

Quote:

Originally Posted by Woof Woof Woof!

buy a car that you can afford to pay cash for. That's you're best advantage.

That is what I do!!! I have one car for "personal" use. Of course, I write off all expenses and gas. Then the IRS never questions the others. For those I take all expense plus depreciation.