Quote:
Originally Posted by ACZakka325i
I would be VERY careful about writing off a vehicle like an NSX through your own LLC. Technically you are allowed to write off only a portion of the lease miles that are driven after you get to work, not miles to and from work to your home. Yes it's confusing and no one really does this. But at the very least, you must have a vehicle with a purpose for work. I have a pretty luxurious pickup truck (GMC Sierra Denali) but it's still a logical company car.
I once knew a man who owned a restaurant and was writing off a Ferrari. He got audited and it was not pretty. YMMV.
For giggles, this was yesterday's haul for decorating our businesses.
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This.
We are business owners and I have done ALL the math, i broken it down a million times and once it is all said and done all you really save is about 12% when writing off for company use.
Leasing vs brand new is very tight, but if you own the car past 5 years then buying comes out cheaper. Leasing vs CPO is a no brainer, CPO EVERY TIME.