Business Car Lease
Are you using your personal vehicle for business purposes?
Have you considered leasing or purchasing a car in your company’s name?
In today’s post we’re going to cover the ins and outs of business car leasing. When you lease, your monthly payments are usually lower than when you buy and you get a new vehicle more often.
As with any aspect of your business and personal finances, it’s crucial to keep them completely separate. True separation includes but is not limited to banking, credit usage, expenses, purchases, travel and transportation.
First things first, if you’re using your personal vehicle for business purposes, you can deduct your business use of the vehicle. Two of the methods of calculating this are actual expenses and standard mileage deduction.
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