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If you have a business You can use it help with the income tax deductible Here you can't use your home as a shelter unless you use your car for your own business
If you want to keep car, cheaper in long run to purchase. If you want new car every few years you go the lease route knowing that there are mileage limitations and that it is just money out the window, like rent payments.
Dealers make considerably more money on leases - that is why they like them. Not good for most consumers unless ..............If you own a business the lease rental is a deductible expense.
The primary difference is exactly what happens in the end of the lease term. Having a lease purchase, you'll own the gear for $1. Having a true tax lease, you've three options: You are able to renew the lease, return the gear or buy the equipment at fair market price.
If you are paying your sales tax by invoice date - the payments will not affect your liablity. ie you owe the whole amount of sales tax as of the date of the invoice. If you are paying sales tax as of the time of payment. You will owe sales tax at the time you receive payment.
Since you are using progress invoicing, the sales tax would be come due at the time of the invoice. If you are just receiving payments, you would receive payments (as you would with any customer, and not invoice until time of completion. You would just need to make sure that your preference for sales tax due date is set to Invoice date, not time of payment.
I just leased my 2007 TBSS w/ 3SS, Safe and Sound, no sunroof, BOSE, no nav. MSRP was $36k Had a 2006 TBSS and did a 6 month pull ahead (turned it in and didn't have to pay the last 6 months of that lease). GMAC had a $1k incentive on leases so that acted like a cap reduction payment. No security since I was turning in a 2006. Paid 1st and last month for a total of $885. Monthly payment including state tax of $40 is $440. Hope that helps.
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