JT8
New Member

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!