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Updated over 10 years ago, 04/28/2014
Buy or Lease new business vehicle? what are you doing?
What is your strategy for your business vehicle?
I have an LLC for my rentals and a S-Corp for my flips. My wife and I work full time across both. Currently we deduct the std mileage. Now are cars are getting old. Time to rethink the cars / tax strategy. Down payment and cash flow are not a problem.
We desire "higher end" cars (not trucks over 6000 lbs.). My challenge (question) is "do the depreciation rates make sen$e" to buy a high end business vehicle..(Telsa X? ...that has little operating expense/maintenance).
Second challenge is the exit strategy (lease...easy, just walk away) vs. (buy/depreciate...gain or loss).
Appreciate your wisdom!