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Business Lease

Discussion in 'Model S: Ordering, Production, Delivery' started by Scothawk, Apr 29, 2014.

  1. Scothawk

    Scothawk Member

    Joined:
    Apr 26, 2014
    Messages:
    68
    Location:
    Clear Lake, Iowa
    Are there any forum members here who are using a Tesla Business Lease?

    I'd like to explore this. Is this something the delivery specialist will work through with me?
     
  2. Ven Rala

    Ven Rala Member

    Joined:
    Nov 17, 2012
    Messages:
    378
    Location:
    Montgomery County, Md
    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.
     
  3. devangpatel

    devangpatel Member

    Joined:
    Apr 18, 2014
    Messages:
    6
    Location:
    Loma Linda ,ca
    Business lease details


    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
     
  4. Gwgan

    Gwgan Almost a wagon

    Joined:
    Aug 11, 2013
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    932
    Location:
    Maine
    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?
     
  5. spaceballs

    spaceballs Member

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    Sep 17, 2013
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    Location:
    Sammamish
    #5 spaceballs, May 23, 2014
    Last edited: May 23, 2014
    Tax Loophole On Luxury Cars - Business Insider
    “lease inclusion amount” table in case your wondering...
    Small Business Taxes Management
     
  6. bonaire

    bonaire Active Member

    Joined:
    Aug 24, 2013
    Messages:
    1,513
    Location:
    USA
    "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.)
     

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