I leased a laptop for my LLC, how do I treat the payments and depreciation?

posted

You're leasing it. So you would normally just enter the lease payments as a deduction and call it a day.

Does your lease have an option to buy at the end? Because if there is an option to buy then you can consider the lease payments as payments towards the purchase and depreciate the value of the laptop.

@kofinyame

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I have a single member LLC for my side hustle. I personally own the truck and equipment. Can my LLC pay lease/rent payments to me personally for renting the equipment used for those jobs? If so, is there a specific amount i can charge?

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