Can I deduct a vehicle lease for my business

[Critter1]

What type of business entity and is the lease in the business's name or yours?

[bernicefisher8]

SMALL PLUMBLING CO  LEASE TRUCK WHAT IS DEDUCTABLE

[bwa]

You can claim deductible business auto/truck expenses in one of two ways.

• IRS Mileage Rate:  You can claim business miles times the IRS mileage rate. IRS mileage rates for business activities are $0.56/mile in 2014 and $.575/mile in 2015. You can add parking and tolls to the mileage rate.
• Actual Cost: You can claim your actual costs including depreciation (or, for a lease, lease payments) times the percentage that you use your car for business. Actual costs would include gas, oil, insurance, repairs, etc. Payments on a note would not be deductible. The cost of the vehicle would be deducted through depreciation instead (or lease deducting lease payments if you lease it.)

[j45cardonag]

More than a comment, a further question: does the IRS mileage rate, $.575/mile for 2015, suppose to include depreciation?

[bwa]

Yes - it includes all costs except parking and tolls and, if you are a business, allocable interest on the car loan.