Welcome Guest. Register Now!  



Find a tax professional cpa near you

View Single Post
  #2 (permalink)  
Old 02-18-2007, 06:56 PM
TaxGuru's Avatar
TaxGuru TaxGuru is offline
Tax Guru
 
Join Date: Jan 2007
Location: New Jersey, USA
Posts: 1,864
Blog Entries: 3
Dear Johncroy,

This is not an easy answer based on the information provided. However, we have now purchased Auto Lease vs Buy Tax calculator program to aid you in making a calculated decision to decide whether to buy vs lease a auto. This program can be assessed under the tax calculator downloads on the left side of the website.

However, I have generally found that in a vast majority of cases, for clients who are owners in very sucessful businesses, generally prefer to choose the Lease option vs the buy option. This is because after consideration of time value, inflation, depreciation of purchased auto, opportunity cost of the downpayment on acquistion costs of auto, there is clearly a material advantage of leasing vs purchasing a vehicle.

Once again, someone might prefer to own a vehicle and it is usually hard to convince them otherwise. Today, leasing is extremely popular with even small businesses. Howvever, one caveat, the customer must be a good negotiator and well informed of leasing terms and conditions.
__________________
Find a CPA near you!

Ask TaxGuru Please refer to the legal disclaimer.
Reply With Quote
 
Follow us on Twitter
» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 
Forum for CPAs
 
Financial Planning