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Question

Is the new car purchase for a small business can be considered an operating expense? The car is needed for the transportation of supplies and we plan to put down 50% and finance 50%. Or is it better to lease the car and write off lease payments.

AI accountant’s answer:

The purchase of a vehicle may be a tax deductible expense.

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Melissa Pedigo, CPA

Melissa Pedigo has been a CPA for over 20 years and she is one of the only CPA copywriters in the world. With a vast knowledge of U.S. tax and accounting, she’s able to write about tax and finance topics from a unique perspective...as an industry expert. When she’s not writing or being an accounting nerd, you’ll find her watching and playing tennis, reading, tending to her half-grown garden, and studying foreign languages

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