[pianotech] vehicle lease

[Matthew Todd]

David,
 
Whatever you write off as a business expense counts as a loss on paper, and minuses against your total.  I guess if you don't need your income as a high as possible (such as if you were going to buy a home), then you can write off everything under the sun and also increase your red flags for a tax audit.

TODD PIANO WORKS 
Matthew Todd, Piano Technician 
(979) 248-9578
http://www.toddpianoworks.com


________________________________
From: David Love <dlove1952 at gmail.com>
To: Matthew Todd <toddpianoworks at att.net>; "pianotech at ptg.org" <pianotech at ptg.org>
Sent: Monday, November 7, 2011 11:41 PM
Subject: Re: [pianotech] vehicle lease


Leases use interest rates as part of the rate calculation. That current rate is virtually zero. Whether it makes sense to lease or buy, take mileage or actual expenses will vary with each person and their business model, income, cost of the lease versus cost of the car, new or used (buying a new car gives you the highest rate of depreciation) and some other factors. You need to do the math. It's not necessarily true that the more you write off the smaller your bottom line. Some expenses will exist no matter what but certain situations allow you to write off more of those expenses thus reducing your tax liability thus increasing your bottom line.  

It's best to seek the advice of accountants for these decisions rather than piano technicians.  

I lease, btw.

David Love 


On Nov 7, 2011, at 7:40 PM, Matthew Todd <toddpianoworks at att.net> wrote:


I just bought a vehicle with 0% interest.  I paid taxes, registration, and all extra costs out of pocket.  Waaaaaay cheaper than a lease.
> 
>I also didn't buy into the whole "you can write everything off if you leased".  The more you write off, the smaller your bottom line is on paper.
>
>TODD PIANO WORKS 
>Matthew Todd, Piano Technician 
>(979) 248-9578
>http://www.toddpianoworks.com
>
>
>
>________________________________
>From: Tom Driscoll <tomtuner at verizon.net>
>To: pianotech at ptg.org
>Sent: Monday, November 7, 2011 1:44 PM
>Subject: [pianotech] vehicle lease
>
>
>List,
>  Anyone out there lease their service vehicle ?
>My Hyundai Santafe has been great but it's bigger than I need and I'm at the tipping point so to speak. That is big $ repairs on the horizon.
> I'm thinking about a fuel efficient little wagon --Kia soul, nissan cube. Chevy  whatever it it's called.
> Any way your collective thoughts, experiences appreciated.
> Tom Driscoll
>
>
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