Post a new topic
    3 Replies Latest reply on Oct 25, 2007 12:03 PM by BDS INC

    Tax Question on leasing a vehicle

    TinMan Newbie
      What is the benefit of leasing a car thru your business as opposed to purchasing a car and claiming business mileage for the tax year? I've heard many say lease the car for a business but have not gotten an answer as to what exactly are the benefits.

      In the past, at the end of the tax year I separate business mileage from recreational and claim the business mileage on tax returns. You have a choice either to itemize or take standard mileage deduction. So, why lease?