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I have a work vehicle that fuel, ins and tabs are paid by company. I also have to pay $220 per month toward the lease of this vehicle. Can I write the $220 per month off?

 
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I have a work vehicle that fuel, ins and tabs are paid by company. I also have to pay $220 per month toward the lease of this vehicle. Can I write the $220 per month off?

If you are self-employed, yes, you can deduct your lease payments but only to the extent you use it for the business. You would need to ascertain business versus personal use. If you are an employee receiving W-2 wages you cannot deduct your lease payments.

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I have a work vehicle that fuel, ins and tabs are paid by company. I also have to pay $220 per month toward the lease of this vehicle. Can I write the $220 per month off?

If you are self-employed, yes, you can deduct your lease payments but only to the extent you use it for the business. You would need to ascertain business versus personal use. If you are an employee receiving W-2 wages you cannot deduct your lease payments.

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