Should you buy or lease a car as a business vehicle? I've asked myself this question sometimes because if you are self-employed or have a small business then you can take advantage of what is known as the vehicle tax deduction.

Book a Discovery Call: https://schedule.lyfetaxes.com/discov...

Subscribe: https://bit.ly/2HJlq46

The vehicle tax deduction allows you to write off your car, your SUV, your truck, and whatever you may drive for business purposes whether you decide to lease vs buy your car.

Timestamps:
Intro (0:00)
Buying vs Leasing a Car (1:40)
Vehicle Tax Deduction (5:00)
Two Methods to Write off a Business Vehicle (6:46)
Factor #1 (9:02)
Factor #2 (10:36)
Factor #3 (14:12)
My Personal Decision (15:04)
Bonus Tip (16:01)

In this video, what I do is give you a solid guide, so that you run the numbers and compare for yourself if you should buy vs lease a car. I'll go over:
- How to Qualify for Vehicle Tax Deduction
- The Two Methods Deduct a Vehicle
- Most Important Factors to Consider when lease vs buy a car
Along with some math and calculations along the way.

More Popular Uploads:
How to Become a Millionaire, Step by Step:    • How to Become a Millionaire: the FAST...  
How to Write Off Your Dream Car:    • How to Write Off Your Dream Car Tax F...  
Vehicle Tax Deduction:    • Vehicle Tax Deduction: 8 Cars You Can...  
7 Popular Tax Write-Offs That Could Trigger an IRS Audit:    • 7 Popular Tax Write Offs That Could T...  
How to File Your Taxes as an LLC:    • How to File Your Taxes as a LLC Owner...  
Single Member LLC, What You Must Know:    • Single Member LLC: What You Need to K...  
How to Start a Business:    • How to Start a Business in 2024: Your...  

Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos!

///
Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).