Anyone who wants to drive for JCT plz read thanks

I agree wholeheartedly with that point. I was just making some statements out loud at your expense so that others may possibly learn something they didn't know.

 

No problem. I think it is good for people to see both sides of the issue so they can choose what is best for them. I could even still consider JCT's lease. Alot of that has to do with many factors, the most important being the kind of truck I can end up with in the purchase end. If I cannot get a good deal, I would possibly go with JCT.

 

Since the lease in question in this thread(JCT) has a $1 buyout at the end, it is not a lease as defined by the IRS for purposes of taxes. It must be depreciated. In order for a truck "lease" to qualify as a lease in the eyes of the IRS it must have a buyout at the end that is within 20% either way of CURRENT FAIR MARKET VALUE. Before any of you guys that are brainwashed tell me that I am wrong, I suggest that you find the proof in the IRS code to back it up. If you can do that, I will eat my foot.

If you would have read my entire message you would have read I was taking about leasing with dealerships not JCT,ESKIMO.

 

You were comparing leasing from a dealership(Trac lease) to lease purchase companies in general. You straddled both sides of the fence so to speak on that post, but really that is irrelevant. I was merely stating that in the IRS' eyes, there is only one kind of lease purchase by definition that can be treated as a lease at tax time.

Once again with you and this post, just like I told PawPaw on a previous post, I am not picking on you or even debating anything you said. I am just pointing out some information that is parralell with your topic that some people don't know, but should know.

 

Actually, I just spoke to Mr Cook, ID#9310890, of the IRS and he said that, according to Publication 463, Chapter 4, the entire lease payment is deductible if the lease is for a business purpose. The $1.00 buyout at the end has nothing to do with it. He said that you cannot claim the $1.00 because you cannot claim any amount used to buy the vehicle. The amount of deductibility is based on the percentage of business use. Since the truck would be used 100% business, 100% of the lease payment is deductible.

 

hey, i am thinking of comming over to jct in about 2 weeks for orientation. I am presently pre-approved for hire; and i am just wondering about them. natural curiosity i suppose? i have a lot of questions, such as..is orientation paid? what are the trucks governed to?

 

What kind of trucks do they offer on their lease?

 

I have a friend over there,has been there for 3yrs and is on his 3rd truck.
When you first go over there you don't really get what you want,you have a choice of what ever is in the yard at the time and from my understanding it is kinda of a free for all they let all the newbies out at one time and everyone heads out to find a truck at the same time.
My friends 1st truck was a Clumbia with over 300,000 miles on it and had issues.Then finally got a chance on a new Classic XL and kept it till around 350,000 and the warranty was up and started having major probs with it.Now he is is in a 2007 9900ix and loves it.It has a better warranty than freightliner.
He does ok over there no great but makes a living.

 

One thing I read on this or one of the other JCT threads is to go out to the lot during breaks or whatever and pick out a truck. That way, when everyone else goes out to pick, you let them know the truck you have already chosen.

 

just out of curiosity, how does the point at a truck and lease program work? wouldn't you want to possibly know more about what you are signing to drive for the next five years?