Hi there,
In 2022 I will be leasing two new vehicles 90% of the time the cars will be used for business purposes only. My question is which way is most effective for maximizing my deduction amount? Is it the standard deduction of 56 cents per mile or the itemized deduction?
My business structure is a sole proprietor if that makes any difference.
Is there any significant differences in tax savings to finance the cars over leasing them as well?
please list some examples so i can make the best decision for my business.
thank!
