Leasing to yourself
01-16-2021, (Subject: Leasing to yourself ) 
Post: #1
Leasing to yourself
Didn't know where to post sorry but just curious. Is it illegal to open a leasing company and lease to yourself as a trucking company? And would it be worth the extra hassle? Ive read truck payments can't be written off as tax deductibles but depreciation and lease payments can.
Say you had both legally open and just charged yourself the truck payment and a little more for maintenance since the leasing company would have a low profit amount basically what's leftover after maintenance would being able to use the lease payment as a tax deduction on the trucking side offset having the 2nd business with low profits. Still learning about business taxes and taxes in general so please excuse my stupidity.
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Leasing to yourself - Djmurria - 01-16-2021



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