Auto leasing for business purposes yields the same tax advantage as auto ownership despite the limitations applied to depreciation of automobiles.

Question

Quizplus · Accepted Answer

Auto leasing for business purposes still allows for tax deductions, including lease payments and other expenses, similar to owning a vehicle. The limitations on depreciation just mean that the vehicle cannot be depreciated as quickly or fully as it could be if owned.

Auto Leasing for Business Purposes Yields the Same Tax Advantage