<html xmlns:v="urn:schemas-microsoft-com:vml" xmlns:o="urn:schemas-microsoft-com:office:office" xmlns:w="urn:schemas-microsoft-com:office:word" xmlns:m="http://schemas.microsoft.com/office/2004/12/omml" xmlns="http://www.w3.org/TR/REC-html40"><head><meta http-equiv=Content-Type content="text/html; charset=us-ascii"><meta name=Generator content="Microsoft Word 12 (filtered medium)"><style></style></head><body lang=EN-US link=blue vlink=purple><div class=WordSection1><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Not quite.  I write off my mortgage interest but does that mean it lowers my bottom line?  I’d be paying that anyway in some form.  Paper losses are just that, paper losses.  If I lower my tax liability I may actually end up with more money in my pocket where it counts.   <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>Lease or buy choices take into consideration many factors including things like convenience, satisfaction in what you drive, maintenance costs and time requirements, number of miles you actually drive, total income versus cost etc.  There’s no simple out of the box answer to the question of lease or buy.    You have to analyze the monetary as well as the non monetary factors.  I could buy a $1500 car but the uncertainty of repairs and reliability, the actual cost and time involved in maintenance, rental cars while it’s in the shop, safety issues, etc. don’t make it worthwhile for me personally but I’m often working 6 days a week and log 15000 miles a year.  I leased my second car last year (Subaru) with virtually no money down (small deposit, taxes and a month’s payment, did this while turning in my old lease which was slightly over mileage but which they waived so I would lease another car from them.  Purchased a maintenance agreement which adds about $15 per month to the lease but all maintenance for three years is paid for and the total paid out is less than the actual cost of the mx assuming you get it all done, which I do.  All costs associated with the lease including insurance are deductible to the extent that the car is used for business (over 90% in my case since we have another car that we use for non business stuff).  At the end of three years I turn it in for something else.  My income supports that expense but it may not for everyone.  You have to analyze it for yourself is my point.     It won’t make sense for everybody but it will for some.  <o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><div><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>David Love<o:p></o:p></span></p><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'>www.davidlovepianos.com<o:p></o:p></span></p></div><p class=MsoNormal><span style='font-size:11.0pt;font-family:"Calibri","sans-serif";color:#1F497D'><o:p> </o:p></span></p><div><div style='border:none;border-top:solid #B5C4DF 1.0pt;padding:3.0pt 0in 0in 0in'><p class=MsoNormal><b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'>From:</span></b><span style='font-size:10.0pt;font-family:"Tahoma","sans-serif"'> pianotech-bounces@ptg.org [mailto:pianotech-bounces@ptg.org] <b>On Behalf Of </b>Matthew Todd<br><b>Sent:</b> Tuesday, November 08, 2011 6:35 AM<br><b>To:</b> pianotech@ptg.org<br><b>Subject:</b> Re: [pianotech] vehicle lease<o:p></o:p></span></p></div></div><p class=MsoNormal><o:p> </o:p></p><div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>David,<o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> <o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>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.<o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> <o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><b><u><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:blue'>TODD PIANO WORKS</span></u></b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> <br></span><span style='font-family:"Arial","sans-serif";color:blue'>Matthew Todd, Piano Technician</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'> <br></span><span style='font-family:"Arial","sans-serif";color:blue'>(979) 248-9578</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-family:"Arial","sans-serif";color:blue'><a href="http://www.toddpianoworks.com/" target="_blank">http://www.toddpianoworks.com</a></span><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p></div><div><div><p class=MsoNormal style='margin-bottom:12.0pt;background:white'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>From:</span></b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> David Love <dlove1952@gmail.com><br><b>To:</b> Matthew Todd <toddpianoworks@att.net>; "pianotech@ptg.org" <pianotech@ptg.org><br><b>Sent:</b> Monday, November 7, 2011 11:41 PM<br><b>Subject:</b> Re: [pianotech] vehicle lease</span><span style='color:black'><o:p></o:p></span></p><div id=yiv1123432170><div><div><p class=MsoNormal style='background:white'><span style='color:black'>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<span class=yiv1123432170apple-style-span> 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.  </span><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal style='background:white'><span class=yiv1123432170apple-style-span><span style='color:black'>It's best to seek the advice of accountants for these decisions rather than piano technicians.  </span></span><span style='color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='color:black'><o:p> </o:p></span></p></div><div><p class=MsoNormal style='background:white'><span class=yiv1123432170apple-style-span><span style='color:black'>I lease, btw.</span></span><span style='color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='color:black'><br>David Love <o:p></o:p></span></p><div><p class=MsoNormal style='background:white'><span style='color:black'><o:p> </o:p></span></p></div></div><div><p class=MsoNormal style='margin-bottom:12.0pt;background:white'><span style='color:black'><br>On Nov 7, 2011, at 7:40 PM, Matthew Todd <<a href="mailto:toddpianoworks@att.net" target="_blank">toddpianoworks@att.net</a>> wrote:<o:p></o:p></span></p></div><blockquote style='margin-top:5.0pt;margin-bottom:5.0pt'><div><div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>I just bought a vehicle with 0% interest.  I paid taxes, registration, and all extra costs out of pocket.  Waaaaaay cheaper than a lease.<o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> <o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>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.<o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> <o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><b><u><span style='font-size:13.5pt;font-family:"Arial","sans-serif";color:blue'>TODD PIANO WORKS</span></u></b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> <br></span><span style='font-family:"Arial","sans-serif";color:blue'>Matthew Todd, Piano Technician</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:blue'> <br></span><span style='font-family:"Arial","sans-serif";color:blue'>(979) 248-9578</span><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-family:"Arial","sans-serif";color:blue'><a href="http://www.toddpianoworks.com/" target="_blank">http://www.toddpianoworks.com</a></span><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'><o:p> </o:p></span></p></div><div><div><p class=MsoNormal style='margin-bottom:12.0pt;background:white'><b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>From:</span></b><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> Tom Driscoll <<a href="mailto:tomtuner@verizon.net" target="_blank">tomtuner@verizon.net</a>><br><b>To:</b> <a href="mailto:pianotech@ptg.org" target="_blank">pianotech@ptg.org</a><br><b>Sent:</b> Monday, November 7, 2011 1:44 PM<br><b>Subject:</b> [pianotech] vehicle lease</span><span style='color:black'><o:p></o:p></span></p><div id=yiv1123432170><div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>List,</span><span style='color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>  Anyone out there lease their service vehicle ?</span><span style='color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'>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.</span><span style='color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> I'm thinking about a fuel efficient little wagon --Kia soul, nissan cube. Chevy  whatever it it's called.</span><span style='color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> Any way your collective thoughts, experiences appreciated.</span><span style='color:black'><o:p></o:p></span></p></div><div><p class=MsoNormal style='background:white'><span style='font-size:10.0pt;font-family:"Arial","sans-serif";color:black'> Tom Driscoll</span><span style='color:black'><o:p></o:p></span></p></div></div></div><p class=MsoNormal style='margin-bottom:12.0pt;background:white'><span style='color:black'><o:p> </o:p></span></p></div></div></div></div></blockquote></div></div><p class=MsoNormal style='margin-bottom:12.0pt;background:white'><span style='color:black'><o:p> </o:p></span></p></div></div></div></div></body></html>