Hi to every one, hope you all are having a great day.
I am wondering if having V.A. benefits will help a person procure the financing for purchasing a Tractor and possibly a trailer to start up as an independent contractor going over the road.
Also, if the V.A. benefits will help with a business loan, would it also apply to the Leasing programs. From what I am learning, Leasing may be a better way to go since the entire lease payments are tax-deductible. I understand that on purchase financing, only the depreciation of the truck is tax deductible. This leads me to another question that maybe some of you can help me with- what is the difference on taxes paid between being an Owner-Operator with an outright purchase financed tractor versus being an Owner-Operator with a Lease-financed tractor? All information would be greatly appreciated.
Will being V.A. Loan eligible help with financing?
Discussion in 'Trucker Taxes and Truck Financing' started by Delirious Nomad, Sep 29, 2009.