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gsnwllc
Mar 19, 2007, 10:31 AM
I know this is an age old question. I am a single person LLC commission sales that has always leased a CAR (no trucks) every 2 years. My accountant strongly advises this as all of the expenses are deductible. He says that not only is it clean and easy, but financially it make sense.

I have received some other opinions lately that argue the fact that with 0% financing out there, it is better to buy and depreciate the vehicle.

I'd appreciate all opinions on this subject! THANKS!

ATYOURSERVICE
Mar 19, 2007, 10:48 AM
Your accountant is correct. You can use write off for leases if you are a business or for business purposes. If you purchase and drive a lot you can use milage and some repair expenses for the car as a business expense. Ask your tax preparer which one would be better for you.