Truck Lease Pmts? Tax write off???

I would think so. We lease from England and altho we havent heard back from our accountant, I'm pretty sure you can write-off your lease payment on your taxes. I mean, after all, a lease payment is a business expense, right?

 

Ditto

A long time ago I had a degree in accounting. So I truely believe this will fall as a business expense.

 

Why are you asking that here ? You should be having your taxes handled by a professional .

 

Would the same go for an o/o driving a rental from say penske or ryder?
Thanks for taking the time to reply in this thread with expert knowledge.

 

The answer is yes. You would not need the truck if it were not part of the business activity.

 

General rule of thumb: If the espense is to create taxable income, it is deductable.
Always check with your tax professional to be sure and select a tax professional that is familiar with your type of business.

 

I agree as well. Especially on the latter part. Too many people think just anyone can do returns.

 

Yes rentals like Ryder Penske . are tax write off. Most have a Business lease.Which i think is better than a company lease. Especially if you have to be towed for example. Talk to a driver at A to Z trucking he pays .05mile for bumper to bumper warranty. sounds good

 

no offense,but if you don't know the ans. to that question,you need to go to an owner/op class or something.i researched all of that before i decided.just my opinion,i could b wrong.