Can I deduct car lease payments on my tax return?

Can I deduct car lease payments on my tax return?

Yes!

If you are self employed or a business owner then you can write off your lease payments on your tax return.

For example, say you lease a car for $500 a month. You can get a deduction for $6,000 and that will save you about $3,000 in taxes.

Pretty good deal! You get to spend the money on yourself and pay less tax!

Feel free to reach out to our team with any questions.