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Old 08-19-2003, 08:19 PM
HarryD's Avatar
HarryD HarryD is offline
LawnSite Bronze Member
Join Date: Jun 2002
Location: Nebraska
Posts: 1,069
Leasing a Truck

How many of you lease and how much can you write off. the interest. was thinking of doing this
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Old 08-19-2003, 10:42 PM
LawnLad LawnLad is offline
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Join Date: Jan 2002
Location: Cleveland, Ohio
Posts: 738
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.
Lawn Lad, Inc.
Cleveland, Ohio
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Old 08-19-2003, 11:40 PM
bruces bruces is offline
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Location: Independence, MO
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Lawnlad is correct assuming 100% business use.

If partial personal use, only the business percentage is deductible.
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Old 08-20-2003, 07:07 AM
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Team Gopher Team Gopher is offline
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Join Date: Jul 2003
Location: -
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Hi Harry,

Here is a thread that had previously discussed this topic.
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