Leasing a company vehicle A few questions:
1) Do I have to drive a certain number of miles to be able to lease a company car as a legitimate write-off?
2) What happens in a down year where the business can no longer pay the lease? Can I leave extra money in the business from a good year to pay for the lease in what appears to be an upcoming lean year? Or, do you not recommend that because of tax implications? Can I pay the lease ahead of time in the year I have the money to do so?
Thanks,
D. Bruns |