I am considering a lease with SNI's Choice Program, not a lease purchase. Can anyone tell me if the payments are a write off and also what other things could be written off as business expenses? Thank you!
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Tax write offs
Discussion in 'Lease Purchase Trucking Forum' started by csogbk, Dec 17, 2014.
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Schneider gives you ATABS tax service for free for 6 month.. they'll tell you everything.tucker Thanks this. -
Other expanses can be written off as regular business expenses. -
bullets and lime are NOT tax deductible....
wulfman75 Thanks this. -
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When purchasing a truck it becomes an capital asset of your business and large assets like that have to be deprecated so you cannot just right off payments like you can when you lease a truck. Lease payments are an expense that can be written off.
This is one reason lots of companies choose to lease equipment rather than buy it, leasing is not always a bad idea.
Its best you talk with a tax advisor, CPA, or tax attorney to get specific advice for your personal situation rather than taking advice from a forum. -
paul_4lp Thanks this.
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To the OP, yes, when leasing a truck from them (or anyone including a dealership) the lease payments made can be deducted from your taxes.
As I said before, consult your own tax advisor.csogbk Thanks this. -
Thanks Ubu and everyone else!!
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