Question about Leasing and Business

moneymike713 · 09-16-2007, 09:55 PM

I am about to lease a 335 and have a question. My father owns a Small Business and I was wondering if there was any benefit of leasing it through the business? How exactly will this work since it is not my business but his.

stooken · 09-17-2007, 05:18 PM

He probably qualifies from some write off's but it only makes sense if he leases it himself.

Not sure whether or not the nature of business and having a new car matters.

Your dad should talk to a small business tax attorney for proper legal advice.

!Xoible · 09-17-2007, 05:23 PM

dad has to be at least a co-signer on the car. talk to an accountant, but do not sound like you are playing around to not pay taxes, accountants have to report you if you do

John 070 · 09-18-2007, 07:34 PM

Kind of feel like Jerry.....not just having clicked this thread, but about leasing in general.

Jerry : Write it off what?
Kramer : Jerry all these big companies they write off everything
Jerry : You don't even know what a write off is.
Kramer : Do you?
Jerry : No. I don't.
Kramer : But they do and they are the ones writing it off.
Jerry : I wish I just had the last twenty seconds of my life back.

09-16-2007, 09:55 PM	#1
moneymike713 Second Lieutenant 22 Rep 208 Posts Drives: Montego 335 Join Date: Sep 2007 Location: NY iTrader: (0)	Question about Leasing and Business I am about to lease a 335 and have a question. My father owns a Small Business and I was wondering if there was any benefit of leasing it through the business? How exactly will this work since it is not my business but his.
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09-17-2007, 05:18 PM	#2
stooken Brigadier General 184 Rep 4,244 Posts Drives: E70 X5 Join Date: Apr 2007 Location: NOR*CAL iTrader: (2)	He probably qualifies from some write off's but it only makes sense if he leases it himself. Not sure whether or not the nature of business and having a new car matters. Your dad should talk to a small business tax attorney for proper legal advice. __________________ 2010 E92 BSM 335i \| M-Sport \| ST Coils \| Linea Corse Lemans \| Cobb AP \| BMS DCI \| Cyba Tips
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09-17-2007, 05:23 PM	#3
!Xoible Banned 837 Rep 46,029 Posts Drives: .... Join Date: Nov 2006 Location: . iTrader: (4) Garage List 2008 M3 [4.00] 2007 335i [9.00] 2008 528i [8.00] 2006 Infiniti - G35 ... [8.00]	dad has to be at least a co-signer on the car. talk to an accountant, but do not sound like you are playing around to not pay taxes, accountants have to report you if you do
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09-18-2007, 07:34 PM	#4
John 070 Lieutenant General 1706 Rep 14,829 Posts Drives: 335i cpe Join Date: Oct 2006 Location: ZSP/ZPP/ZCW iTrader: (0)	Kind of feel like Jerry.....not just having clicked this thread, but about leasing in general. Jerry : Write it off what? Kramer : Jerry all these big companies they write off everything Jerry : You don't even know what a write off is. Kramer : Do you? Jerry : No. I don't. Kramer : But they do and they are the ones writing it off. Jerry : I wish I just had the last twenty seconds of my life back.
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