Posted 5/15/2014 01:40 (#3870917 - in reply to #3869534) Subject: Jake need a clarification here
West Union, Illinois
One thing I would be cautious about. Maybe Jake could clarify this
cyclone.1983 - ... you have the option to buy out that vehicle at a predetermined price.
My understanding is if the lease has a specified buyout other than fair market value the IRS does not consider it a true lease. The deduction will be disallowed and the vehicle must be depreciated.
Why should I "own" a vehicle?
