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Tax, SDIRAs & Cost Segregation

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Joel Owens
  • Real Estate Broker
  • Canton, GA
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Would you lease a car and can you write it off??

Joel Owens
  • Real Estate Broker
  • Canton, GA
ModeratorPosted Aug 1 2011, 12:44

Have an older car I have driven forever as a work horse.Looking at trading it in for a brand new car on a lease.

Normally I wouldn't look at a lease but I am thinking I can write it off in my corporation.

I am not a tax expert and I do not want to buy a gas guzzling truck just to get a deduction.If I bought say a new Camry would they let me deduct the lease off of my corp taxes OR would it be better to buy it through the corp and make payments without a lease??

Can I deduct either way??

Thanks

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