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April 8, 2025
Question

Deduction of Monthly payments on my Auto lease

  • April 8, 2025
  • 1 reply
  • 0 views

I use my car (Leased) only for business purposes.  I understand I can deduct the down payment (broken up over each year of the lease) .  Can I deduct the entire monthly payments for the year as well? I have heard that I can....

    1 reply

    April 8, 2025

    Yes.

     

    If the vehicle is used 100% for your business, the monthly lease payments can be deducted as a business expenses.

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