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Click here to go backWhich is better? Buying or Leasing my next car?
It depends on factors such as 1) what kind of deal you can make with the dealership, 2) the typical mileage you put on your car, 3) how much you wear down a car, and 4) the primary use for the car.
To determine whether leasing or buying is best, compare the costs and other issues involved in a lease or purchase. The following factors should be considered:
Beginning costs
Continual costs
Total costs
Is there a possibility of deduction of any of the costs due to the car being used for business?
How important is it to have ownership of the car?
If you have any questions regarding accounting, domestic taxation, international taxation, IRS representation, U.S. tax implications of Real Estate transactions or financial statements, please give us a call at 305-274-5811.
Source: Thomson Reuters