Thread: Need Advice
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Old 08-12-2005, 12:31 PM
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Quote:
Originally Posted by somewhereinla
I have my own company, how would it work as far as taxes?
I generally don't like leases, but your situation is the one instance where it prob'ly makes sense to lease. Check with your tax advisor, but if you lease the car as a business vehicle, I'm pretty sure that you can expense the entire cost of the lease vs. having to depreciate it if you buy.

If you do go that route(using the car as a business expense), check with your insurance agent to be sure that you won't have any problems with exclusions for "commercial" vehicles.

Patrick
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