2007-10-08 11:34:46 · 5 answers · asked by tpyne28 1 in Business & Finance ➔ Taxes ➔ United States
This is a very in depth question if you want a totally legal answer.
The short version is that you can probably write off the part that is used for business purposes. And, no it doesn't matter how much it weighs.
The long version is if you use this truck to commute to work then you might be creating an income that is taxable to you personally. There isn't nearly enough information here to fully answer your question.
2007-10-08 22:59:20 · answer #1 · answered by Russ B 6 · 0⤊ 0⤋
depends on the cost of the truck, the weight of the truck, and whether in fact it is a lease and not actually a purchase
2007-10-08 11:42:25 · answer #2 · answered by Scott K 7 · 0⤊ 1⤋
Is the truck used for a business you run, or is it your personal vehicle? If your personal vehicle, no. If for your business, yes.
2007-10-08 12:04:40 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
Absolutely. That is one of the key reasons to lease.
2007-10-08 11:42:42 · answer #4 · answered by Wylie Coyote 6 · 0⤊ 2⤋
as long as these 3 qualities are met
1.) it is an actual lease
2.) it is used primarily for business
3.) your employer does not reimburse you for the payments
2007-10-08 13:56:44 · answer #5 · answered by Mikey Action 3 · 0⤊ 1⤋