Quote:
Originally Posted by persian54
Depends how much you plan to drive.
But leasing it allows you to write the entire payment off, while owning it allows for depreciation and mileage write offs (accountants please chime in)
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I'm currently driving around 20k miles/year so I would say that's a safe estimate. I was initially thinking the lease would be the way to go but it looks like purchasing under Section 179 could give some substantial deductions (i.e. $25,000 for the first year).
For any of the accountants out there, is there a worksheet or formula for this? I've been looking but haven't found one yet.