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Discussion in 'Rental Equipment' started by Dirty Water, Feb 24, 2008.
Just purchase a car and depreciate it over 2-3 years.
It seems like you could still write off 30% of your car useage even if you did not lease.
I just looked at a copy of an older tax return I had on this computer for when I had to use my own vehicle for business use. I didn't see the word 'lease' anywhere on the form.
I would suggest that you go to the IRS website and do a search for Form 2106 (Employee Business Expense) and read the instructions for it. Should answer your questions.
Glad to see you are doing so well. But I'm puzzled. As a Democrat (I think) shouldn't you just rejoice about it and be glad to pay more taxes, not look for ways to get out of it? More taxes is good right?
I'm already paying a fortune on the regular job. I don't mind paying the same ratio on the 2nd job. I do not like having to pay 30%
If I knew my money was going to be put to good use, maybe things would be different.
Bear in mind that, whether buying or leasing, vehicles weighing less than 6000 lbs has limited deductions for depreciation and lease expenses. Don't assume that by leasing you someone get a better write off.
Dirty- I wasn't aware there was a difference. Do you itemize your vehicle expenses or do you take the 27 cents/mile right off? 2008 will have a 50 something cents/mile write off. BTW, if you want less taxes, donate more to a charity.
poolboy quote : Dirty- I wasn't aware there was a difference. Do you itemize your vehicle expenses or do you take the 27 cents/mile right off? 2008 will have a 50 something cents/mile write off. BTW, if you want less taxes, donate more to a charity.
I can help you out there, I'm a charity. Send me the cash I'll print you up a receipt. What colour do you want?
I knew that was coming at some point.
I've always thought socialism was a waste of tax money and am beginning to think militarism outside the borders is too. The John Birch Society is right: Get out of the UN and bring ALL the troops home. Let the world miltarize its own self.