Certified Pre-Owned 2004 BMW 645Ci 645 Ci Lease $749.00/mo
Can I buy a car and leases it to my California S Corporation?
Here's the problem: I have no debt but my credit score is only 605. This is a pretty good score to buy a car, but not for rent, so I lose the tax advantage. Instead, I would buy a rental car and my business for the same price as my monthly payment so there is no personal income from leasing. Is this against the law federal or state tax? I own 50% of the Corporation S The problem is that there is a better tax advantage when the lease instead of buy. If my s Corp buys the car can only cancel depreciation. When buying a car and rent my s Corp for the same exact amount of payments to 0 profit, which is below the threshold of a calendar CI thought.
How good you would do? It is probable that a taxable event in your personal statement because of the operation, you can not only pass through payment, does not work that way. To level the playing field, you'll have to remove the vehicle as a single owner, then dismiss, claiming the payments of the S-Corp as income. It would do the same in the S-Corp with a purchase by the S-Corp anyway, so keep it simple and simply buy the S-Corp and claim actual expenses. The IRS looks at these things using the length of "weapons" concept. If the smell of a scam, they will reject it.
Why car dealers NEVER answer your questions?
I've emailed several car dealers on offers lease and availability of vehicles and have not once received a real answer. but respond to questions of its own and a lot of other shit that is pretty stupid. I ask you what's lease offer on a G35 sedan and send me an email for 4 days, saying they are looking at this and ask if I got in touch with any of them, I want a test drive, etc. but never answer the damn question that would answer in 10 seconds.
fishing there using the car as bait, why do email when you can hit delete to close that wants to trap the way that a lease is the absolute worst investment of your life will make you pay all the interest and the depreciation of a new car to salvage and sell and get the benefit that should have were you close to $ 4000 in most cars loose $ 4000 + on deals