Tax Benefits

There are two types of tax benefits associated with leasing.

Sales Tax:

State sales tax on any vehicle that’s purchased outright or financed through a traditional loan is due immediately, right up front. For an expensive vehicle, this can represent a substantial tax payment. However, with a lease, in most states, sales tax can be incorporated into the monthly payment schedule. This provides the car owner with the use of that money over the term of the lease.

Business-Related Deductions:

Many of our clients use their cars for business purposes, and lease their cars in a business name; which need not be a legal corporate entity. A Ferrari, Lamborghini or Rolls Royce, for example, can certainly impress prospects and customers. Leasing in a business name allows you to use pre-tax dollars to make monthly payments.

Always consult with your accountant or financial advisor regarding this type of tax-related decision.

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