Paying off lease purchase

Discussion in 'Lease Purchase Trucking Forum' started by Sphillips38, Jul 14, 2020.

  1. Sphillips38

    Sphillips38 Bobtail Member

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    I'm thinking of painting off my lease purchase. No balloon payments.I currently owe 44000 in lease.The beginning amount was 131000.
    My question is:What taxes are gonna have to be paid when I pay the truck off?
    I don't have to pay any taxes to the company I got the truck from.

    Thank you
     
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  3. Crazytrucker77

    Crazytrucker77 Medium Load Member

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  4. Eddiec

    Eddiec Road Train Member

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    Don't do anything until you talk to your accountant
     
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  5. Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    Accountant AND your co.
     
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