I own a business. how much of my lease payments can I claim? I also put a large lump sum to obtain my business space
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If you use your lease space exclusively for your business, you are allowed to deduct the full amount of the lease payments each year.
The down payment you made to secure the lease would be a startup cost. You should list it under deposits or rental start-up. Those costs get divided up as deductions over several years.
If you use your lease space exclusively for your business, you are allowed to deduct the full amount of the lease payments each year.
The down payment you made to secure the lease would be a startup cost. You should list it under deposits or rental start-up. Those costs get divided up as deductions over several years.
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