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re: S corp car question..
Posted on 5/8/24 at 5:20 pm to bleedsgarnet
Posted on 5/8/24 at 5:20 pm to bleedsgarnet
How many business miles are you driving a year? Most leases have a 12-15K annual mileage allowance and then it get expensive. Have you considered insuring a commercial owned auto is more expensive?
I always came out ahead deducting auto expenses by mileage than actual expense. Keep in mind I would have around 30K miles per year.
I always came out ahead deducting auto expenses by mileage than actual expense. Keep in mind I would have around 30K miles per year.
1
Posted on 5/8/24 at 7:23 pm to weadjust
17k.
I can eat the additional 2k at $0.25 per mile...that's only $1k per 2yr lease.
And I haven't checked on insurance.
I can eat the additional 2k at $0.25 per mile...that's only $1k per 2yr lease.
And I haven't checked on insurance.
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