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Leasing a Truck

Discussion in 'Business Operations' started by HarryD, Aug 19, 2003.

  1. HarryD

    HarryD LawnSite Bronze Member
    Messages: 1,068

    How many of you lease and how much can you write off. the interest. was thinking of doing this
     
  2. LawnLad

    LawnLad LawnSite Senior Member
    Messages: 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.
     
  3. bruces

    bruces LawnSite Senior Member
    Messages: 648

    Lawnlad is correct assuming 100% business use.

    If partial personal use, only the business percentage is deductible.
     
  4. Team Gopher

    Team Gopher LawnSite Platinum Member
    from -
    Messages: 4,040

    Hi Harry,

    Here is a thread that had previously discussed this topic.
     

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