Can I Deduct Depreciation on a Lease-to-Own Semi Truck?

It can and it can also bite you in the rear if not kept for the entire period.

Many things must be considered in the tax planning. Not just an instant write off.

Certain expenses also need to be reviewed in planning as well. It is not always best to expense and item and risk on an audit. If audited and found, it must be capitalized and you lose the option of taking any 179 deductions.

Like I stated, it depends on the wording of their lease and the obligation.

 

As I stated, the lease determines it.

If you have a balloon payment at the end, this amount is depreciable.

 

I have no idea what a Lone Mountain lease looks like and as such have not read one.

If you are making monthly lease payments and then the truck is yours at the end of the lease, then you have purchased the truck.

You could be in the position of a captitalized lease and that would mean a contractual obligation for the payments. In addition, the truck could be set up for depreciation under that method.

Payments on the lease then would not be a deduction.

So, until I would have the time to review in detail, I will state it depends on the lease.

 

You're buying the truck from what I gather.
http://www.lonemountaintruck.com/

 

Could be. But I work directly from the legal papers not website info.

 

there leases are payments with no buyout or payoff at the end. make all the payments, its yours

 

There was some nice looking trucks on their site.
1600 a month is a lot of payment, wonder what the driver pay is with a payment like that?