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I have a single member LLC. Can I deduct the monthly car payments if I buy or lease a new car that costs about $90K?
I am accepting a job working contract as an I.T.
professional in 2018 and will receive a 1099 from the
company that I will be doing the work for. I need a new car for the daily commute to the office. I'm trying to decide if I should get a loan to purchase or should I lease. What's the best way to make this purchase and reduce it's annual cost via any possible tax deductions? Or, is only the mileage deductible? Depreciation? Thanks!
‎June 6, 2019
1:24 PM