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I have a question about tax deductions... do I like.. pay
I have a question about tax deductions... do I like.. pay you or how does this work … read more
Lev
Lev
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Bachelor's Degree Equivalent
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Lev, I am writing about a client of mine that he has a food
Good afternoon Lev, I am writing about a client of mine that he has a food wholesale business which he uses his autos for delivery. he recently added another business for himself and he works as a cha… read more
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Lev
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I'm looking at getting a new car. I own an LLC. Sole owner.
HelloI'm looking at getting a new car.I own an LLC. Sole owner.Am I better to lease. Buy outright (I have the cash) or get a loan?Car around $47,000Looking for best situation for taxation purposes.Tha… read more
Matthew Breecher
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I'm a financial adviser at Northwestern Mutual and looking
Hi there, I'm a financial adviser at Northwestern Mutual and looking for some help regarding vehicles and deductions. I currently own my vehicle, but was told that I couldn't deduct the full car payme… read more
emc011075
emc011075
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I'm a small business owner and I drive my personal car for
I'm a small business owner and I drive my personal car for business when necessary. I purchased my car new ( for $29,000 in cash ) in October of 2011. I sold it for $12,000 in November of 2015. From 2… read more
emc011075
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I am leasing (I do not have title to the vehicle) an automobile
I am leasing (I do not have title to the vehicle) an automobile (not a truck) in January 2015 in the name of my 100%-owned S Corp and use it 100% for business (I have another vehicle for personal use)… read more
Lev
Lev
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I am a landlord. The property I own will be cash flow positive
I am a landlord. The property I own will be cash flow positive this year and should be that way moving forward because he mortgage is paid off and all the major repairs have been done. So, if I had $6… read more
Robin D.
Robin D.
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I am an independent contractor and leased a car for 3 years
I am an independent contractor and leased a car for 3 years ending in July 2013- I made larger payments this last year than the lease amount and then in July 2013 bought the car at the buy out amount.… read more
Lev
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lease or buy a car? I have a C Corp and funds to do whatever...
lease or buy a car? I have a C Corp and funds to do whatever... lease probably keeps more cash available. May have to drive more miles than standard lease allows. Do dealers offer a higher price for m… read more
PDtax
PDtax
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I am a sole stockholder of an S Corp. I want to get a new
I am a sole stockholder of an S Corp. I want to get a new SUV car. I was planning on leasing it through my S Corp for 36 months. Then personally buying it at the end of the lease. This way additional … read more
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Lev
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My wife and I are considering buying a new car. She is a traveling
My wife and I are considering buying a new car. She is a traveling physical therapist who works independently for several home health agencies, and they all 10-99 her at that end of the year. She has … read more
Lev
Lev
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Bachelor's Degree Equivalent
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I lease a car, partly for business, partly for personal. I
I lease a car, partly for business, partly for personal. I deduct the standard mileage for the miles I drive for business. My son also uses the car for his business. He has in past years deducted the … read more
Arthur Rubin
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I have a sole proprietorship (education consultant) and make
I have a sole proprietorship (education consultant) and make house calls (exclusively). I have been taking the standard mileage deduction for my 13 yr old vehicle. It's time to retire that vehicle and… read more
CGCPA
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Can someone tell me the pros and cons of leasing a vehicle
Can someone tell me the pros and cons of leasing a vehicle from a shareholder to an S corp, or vice versa?… read more
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I am expecting to have about 3600 taken from my fed withholding
I am expecting to have about 3600 taken from my fed withholding tax and deducting about 20000 miles which I calculated to be 9000 in deductions. I am single and pay 400 in rent. I make 32000 annual sa… read more
Merlo
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I am self-employed. I am about to buy a new car. Would I ...
I am self-employed. I am about to buy a new car. Would I be better off buying or leasing? If I lease, can I write off the entire lease as well as gasoline? And if I buy the car, can I only write off m… read more
RD
RD
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I work as an IC delivering motorhomes and other vehicles.
I work as an IC delivering motorhomes and other vehicles. Am issued 1099. IRS is questioning my mileage deductions, which include both, towed (all 4 wheels on ground and attached/towed behind the driv… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,267 satisfied customers
I am currently a 1099, if I want a new car does it make ...
I am currently a 1099, if I want a new car does it make more sense to by the car or to lease the car? If I get a used car for about $10-$15,000 is that the amount I get to write off? thanks, MattyD… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
34,267 satisfied customers
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