Leasing to yourself
01-17-2021, (Subject: Leasing to yourself ) 
Post: #3
RE: Leasing to yourself
This stupidity didn't come from anyone but me lol. I was just curious about it. Trying to figure out business taxes before I have one. Still got allot of figuring out lol. Going to try to explain better whats in my head though from my reading on taxes.
From what I've read for truck drivers truck loan payments can't be written off as a tax deductible you write off the interest on the loan and depreciation, but lease/rental payments can be written off.
So if you had one LLC that owned/financed the truck and you leased/rented to your trucking company would it help tax wise?
And can you maybe help give me a better understanding on the business tax side? Do you pay taxes on the money earned minus tax deductions, or do you pay on money earned minus expenses and tax deductions?
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Messages In This Thread
Leasing to yourself - Djmurria - 01-16-2021,
RE: Leasing to yourself - Djmurria - 01-17-2021



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