tvo7

If I lease a car for thorugh my busines, I was thinking of a E55 AMG, how much can I write off as business expense? IS there a max I can deduct? If you can write off lease expenses of a car, why can't one go buy a S55 AMG, lease it, and totally tax deduct it?

Chucky300

You should probably ask your accountant. It might vary by the business you are in (meaning if your business calls for the use of the high end car more than a different business would, you may be able to write off more)

My dads an accountant. Send him an email or call his office. Just say I told you too. He wouldnt charge anyway.
www.taxhelp1040.com

Chi500

usually cars used for businesses are trucks/suv's. the IRS has a minimum gross vehicle weight requirement. fancy suv's that qualify are Range Rovers, Escalades, etc.

unless your business is in an auto related field i don't think you can deduct an s55. the only deduction you would be able to take would be the $.445 per mile.

LeaseCompare

We do a lot of high end vehicles for business owners and professionals and they are able to write most or all off.