Business Lease

I do not have the business lease but I have discussed with Tesla store employees about it. Just know that you would not get the $7500 federal tax credit with the lease. The delivery specialist will work with you on getting this.

Business lease details

Ven Rala said:

I do not have the business lease but I have discussed with Tesla store employees about it. Just know that you would not get the $7500 federal tax credit with the lease. The delivery specialist will work with you on getting this.

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I am taking delievery on 22 nd and I am leasing Its p85 with msrp 103000 they are asking 8600 down payment(including license fees 670,acquisition fees 700,first monthly payment sales tax of 5000 down payment,registration fees,and California tire fees). Monthly fees comes out to 1610 plus tax total 1739.56 for 36 months. The benefit of leasing is that you can take tax write off of whole payment of 1739. Because I am doctor by doing that I am saving 45% tax which is 782 and by not using gas station I will save 375 so basically I will have my p85 for 582/month. Isn't it amazing you can get 15000 miles per year and .25 c /mile after 45000 miles. If u finance after 3 years your car is only worth 47000 and with leasing after 3 years you spend only 19000 after all savings so you can decide but in order to get approved for lease you have to have TIN # and credit score 740 or above they use trans union for credit score which is always higher among all three credit reporting agency. I hope this will help

devangpatel said:

... The benefit of leasing is that you can take tax write off of whole payment of 1739. Because I am doctor...

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I thought that either working as an independent contractor and using actual costs or as an employee using mileage only the portion of the lease payment attributable to work related travel and excluding commuting miles is deductible. Unless you make house calls how can you deduct the whole payment amount?

Gwgan said:

I thought that either working as an independent contractor and using actual costs or as an employee using mileage only the portion of the lease payment attributable to work related travel and excluding commuting miles is deductible. Unless you make house calls how can you deduct the whole payment amount?

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Tax Loophole On Luxury Cars - Business Insider

... Most are leased because of a loophole in the tax code allowing the business write off of almost the entire lease payment multiplied by the percentage of business use (which is rarely audited by the IRS). ...

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“lease inclusion amount” table in case your wondering...
Small Business Taxes Management

"rarely audited by the IRS" is key for these situations. Good luck and keep it under the radar. That's how we make this country great!

(Doctor or not, it is a great debate whether we should allow tax deductions for people to drive to work where they were going anyway. I'm sure it happens a couple hundred thousand times a year across the country.)