View Full Version : Leasing a Truck
08-19-2003, 08:19 PM
How many of you lease and how much can you write off. the interest. was thinking of doing this
08-19-2003, 10:42 PM
An equipment/truck lease is 100% deductible as an expense, there is no interest expense separate from the lease. If you purchase the vehicle, you depreciate the principal and expense the interest.
08-19-2003, 11:40 PM
Lawnlad is correct assuming 100% business use.
If partial personal use, only the business percentage is deductible.
08-20-2003, 07:07 AM
Here is a thread (http://www.lawnsite.com/showthread.php?s=&threadid=41297)that had previously discussed this topic.
vBulletin® v3.8.6, Copyright ©2000-2014, Jelsoft Enterprises Ltd.