How many knuckleheads do you know who are modding their LEASED Z?
08-01-2006, 03:51 PM
#81
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Originally Posted by UnderdogZ
Yeah I'm a Knucklehead too 
I leased my enthusiast roadster with 0 down, pay 580/mo for 4 yrs
I deduct every single payment every fiscal year and get every penny back
at the end of the four years I will have driven a roadster for the last four
years for free and I will only need to pay about 15 k to buy out so by that
time I buy out I estimate my roadster will be worth 25k and I will only have
paid 15k or less for it while you finance the whole retail price......
yeah I'm a knucklehead alright.... I'll make money on mine while yours
depreciates.....
I leased my enthusiast roadster with 0 down, pay 580/mo for 4 yrs
I deduct every single payment every fiscal year and get every penny back
at the end of the four years I will have driven a roadster for the last four
years for free and I will only need to pay about 15 k to buy out so by that
time I buy out I estimate my roadster will be worth 25k and I will only have
paid 15k or less for it while you finance the whole retail price......
yeah I'm a knucklehead alright.... I'll make money on mine while yours
depreciates.....
Secondly, if a vehicle with a fair market value in excess of approximately $15,200 (for 2005) is leased, you must add back an additional amount (i.e., subtract it from your otherwise deductible amount) to offset a portion of the lease payments.
You might want to talk to your CPA or the IRS might come a knockin'.
08-01-2006, 03:53 PM
#83
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WOOHOO... the answer to my prayers...
i'm gonna go to the dealership and demand that they give me $0 lease terms and if they won't i'll tell them to look it up online and then they be so edumacated for looking it up online that they will be like..
wow u pwned us and we will give you $0 lease for telling us to check it out online.
BAH...
so you have a business that uses Z' so you can make it a tax deductible.
wow... i guess everyone who posted on this thread has a Z that they use for business purposes and are all idiots for not claiming it on their taxes.
ish, your post was all ish...
i'm gonna go to the dealership and demand that they give me $0 lease terms and if they won't i'll tell them to look it up online and then they be so edumacated for looking it up online that they will be like..
wow u pwned us and we will give you $0 lease for telling us to check it out online.
BAH...
so you have a business that uses Z' so you can make it a tax deductible.
wow... i guess everyone who posted on this thread has a Z that they use for business purposes and are all idiots for not claiming it on their taxes.
ish, your post was all ish...
Originally Posted by UnderdogZ
B.S. huh 
ignorance is bliss, do some google research regarding tax deductions with leased vehicles... Business is one way of deducting, the rest is based on conditions pertaining to how you make your income... I did my research do yours and don't hate 
it makes you sound very juvenille any one who knows taxes knows this is not B.S. why do you think leases exist, they don't neccessarly exist for the benefit of the average Joe. They exist primarly for the systematical benefit of business.
if you still confused you are on your own !
ignorance is bliss, do some google research regarding tax deductions with leased vehicles... Business is one way of deducting, the rest is based on conditions pertaining to how you make your income... I did my research do yours and don't hate it makes you sound very juvenille any one who knows taxes knows this is not B.S. why do you think leases exist, they don't neccessarly exist for the benefit of the average Joe. They exist primarly for the systematical benefit of business. if you still confused you are on your own !
08-01-2006, 03:59 PM
#84
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Originally Posted by steve5
UnderdogZ needs to step up and hook the brothers up with free cars...
i'm pretty sure the admins would also like da hook-up.
free cars to all my family members woohoo.... maybe i should get a SL 55 and get the hookup UnderdogZ said and i'll lease my 2 SL 55s for free.
hhmm, maybe i should lease 7 for each day of the week...
SNAP... BEST THREAD EVA!!!
i'm pretty sure the admins would also like da hook-up.
free cars to all my family members woohoo.... maybe i should get a SL 55 and get the hookup UnderdogZ said and i'll lease my 2 SL 55s for free.
hhmm, maybe i should lease 7 for each day of the week...
SNAP... BEST THREAD EVA!!!
Here I'll get you started,
1) become financially independent start a business work for your self instead of cashing a check. Then you'll be able to deduct more than just cars, partial mortgage, meals, travel and relatives supplies.
2) If you feel like thats too much work then get a job in which you are compensated for using your ride. The limitation here is that you can't deduct meals, partial mortgage, etc... the company will more than likely provide all of that..
3) if these are too much than your better off where you are....
SL 55 you get a free car and all you can think about is an SL 55?
there are many ways to find the loop whole don't me I didn't design the system I just work it !
08-01-2006, 04:05 PM
#85
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Originally Posted by UnderdogZ
Here I'll get you started,
1) become financially independent start a business work for your self instead of cashing a check. Then you'll be able to deduct more than just cars, partial mortgage, meals, travel and relatives supplies.
2) If you feel like thats too much work then get a job in which you are compensated for using your ride. The limitation here is that you can't deduct meals, partial mortgage, etc... the company will more than likely provide all of that..
3) if these are too much than your better off where you are....
SL 55 you get a free car and all you can think about is an SL 55?
there are many ways to find the loop whole don't me I didn't design the system I just work it !
1) become financially independent start a business work for your self instead of cashing a check. Then you'll be able to deduct more than just cars, partial mortgage, meals, travel and relatives supplies.
2) If you feel like thats too much work then get a job in which you are compensated for using your ride. The limitation here is that you can't deduct meals, partial mortgage, etc... the company will more than likely provide all of that..
3) if these are too much than your better off where you are....
SL 55 you get a free car and all you can think about is an SL 55?
there are many ways to find the loop whole don't me I didn't design the system I just work it !
1. still doesn't explain $0 on a leased car.
2. personal attacks on my character... doesn't get $0 lease terms and you don't own me.
3. another personal attack on my character which is based on 0 idea and you don't know me.
hey, i like SL 55s so bite me.
still ish and more ish from you?
08-01-2006, 04:31 PM
#86
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Originally Posted by steve5
i still see ish.. on your reply.
1. still doesn't explain $0 on a leased car.
2. personal attacks on my character... doesn't get $0 lease terms and you don't own me.
3. another personal attack on my character which is based on 0 idea and you don't know me.
hey, i like SL 55s so bite me.
still ish and more ish from you?
1. still doesn't explain $0 on a leased car.
2. personal attacks on my character... doesn't get $0 lease terms and you don't own me.
3. another personal attack on my character which is based on 0 idea and you don't know me.
hey, i like SL 55s so bite me.
still ish and more ish from you?
no one is attacking your character, what the hell are you talking about?..
if the advice I posted doesn't work for you then it doesn't work for you,
no matter how you feel about me and my situation the tax laws are what they are don't be mad if it work for others.....
08-01-2006, 04:34 PM
#87
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Oh my lord. Dutch just put your flame suite on that you are up for a long riding of all the Z guys with this thread. I'm not even going to report it hahah. This is going hilarious, guys enjoy your stay.
08-01-2006, 04:47 PM
#89
Originally Posted by SH82N-Z
Oh my lord. Dutch just put your flame suite on that you are up for a long riding of all the Z guys with this thread. I'm not even going to report it hahah. This is going hilarious, guys enjoy your stay.
08-01-2006, 04:47 PM
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Originally Posted by BobbyRitz
I've got to ask...how do you get every penny back? First, this assumes that you are using your vehicle for 100% business reasons. Business mileage does not include commuting from home to your main place of business, and your expenses do not include parking at that location, which is also non-deductible.
Secondly, if a vehicle with a fair market value in excess of approximately $15,200 (for 2005) is leased, you must add back an additional amount (i.e., subtract it from your otherwise deductible amount) to offset a portion of the lease payments.
You might want to talk to your CPA or the IRS might come a knockin'.
Secondly, if a vehicle with a fair market value in excess of approximately $15,200 (for 2005) is leased, you must add back an additional amount (i.e., subtract it from your otherwise deductible amount) to offset a portion of the lease payments.
You might want to talk to your CPA or the IRS might come a knockin'.
Yes both observation of the tax rules are correct, but not limited to those conditions. Each entity benefiting from these rules has their own scenario (each business is different) this is where a CPA or CFP can help to interpret these conditions when submitting your business tax forms to the IRS. As far as adding back an additional amount you are also correct in your observation , but this rule also has limitations as well. Again the key is to become and an independent entity, there are hundred of tax laws that serve many purposes. Always consult your CPA or CFP and you will do o.k.
08-01-2006, 04:52 PM
#91
Originally Posted by SH82N-Z
Oh my lord. Dutch just put your flame suite on that you are up for a long riding of all the Z guys with this thread. I'm not even going to report it hahah. This is going hilarious, guys enjoy your stay.
Originally Posted by Hraesvelg
Shayan is the next Jvanquish.
Originally Posted by TK2005
JVAN was never this bad.
Originally Posted by Hraesvelg
I meant that he is the new guy that no one likes but continues to post.
08-01-2006, 05:15 PM
#94
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Also let us not forget the sad few for who this is the only way they can afford the car.
Lease it for 4 years to get a low monthly payment, then buy for 4 years to get a low monthly payment.
Oh wait....this is what I did.
Lease it for 4 years to get a low monthly payment, then buy for 4 years to get a low monthly payment.
Oh wait....this is what I did.
08-01-2006, 05:24 PM
#95
Originally Posted by UnderdogZ
B.S. huh ignorance is bliss, do some google research regarding tax deductions with leased vehicles... Business is one way of deducting, the rest is based on conditions pertaining to how you make your income... I did my research do yours and don't hate it makes you sound very juvenille any one who knows taxes knows this is not B.S. why do you think leases exist, they don't neccessarly exist for the benefit of the average Joe. They exist primarly for the systematical benefit of business.
if you still confused you are on your own !
ignorance is bliss, do some google research regarding tax deductions with leased vehicles... Business is one way of deducting, the rest is based on conditions pertaining to how you make your income... I did my research do yours and don't hate it makes you sound very juvenille any one who knows taxes knows this is not B.S. why do you think leases exist, they don't neccessarly exist for the benefit of the average Joe. They exist primarly for the systematical benefit of business. if you still confused you are on your own !
But i've never heard of the entire payment being a deductable honestly, and I know a lot of people in high places which feel the same way.
08-01-2006, 05:33 PM
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Originally Posted by UnderdogZ
Yes both observation of the tax rules are correct, but not limited to those conditions. Each entity benefiting from these rules has their own scenario (each business is different) this is where a CPA or CFP can help to interpret these conditions when submitting your business tax forms to the IRS. As far as adding back an additional amount you are also correct in your observation , but this rule also has limitations as well. Again the key is to become and an independent entity, there are hundred of tax laws that serve many purposes. Always consult your CPA or CFP and you will do o.k.
08-01-2006, 05:39 PM
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Originally Posted by UnderdogZ
Yes both observation of the tax rules are correct, but not limited to those conditions. Each entity benefiting from these rules has their own scenario (each business is different) this is where a CPA or CFP can help to interpret these conditions when submitting your business tax forms to the IRS. As far as adding back an additional amount you are also correct in your observation , but this rule also has limitations as well. Again the key is to become and an independent entity, there are hundred of tax laws that serve many purposes. Always consult your CPA or CFP and you will do o.k.
Last edited by BobbyRitz; 08-01-2006 at 05:45 PM.
08-01-2006, 05:43 PM
#99
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Friends don't let friends lease.
BTW, UnderdogZ, the fact that you haven't been caught doesn't make it legal. I too own a business.
BTW, UnderdogZ, the fact that you haven't been caught doesn't make it legal. I too own a business.
Last edited by i8acobra; 08-01-2006 at 05:48 PM.
08-01-2006, 05:43 PM
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Originally Posted by BobbyRitz
I am so that isn't necessary...
That was a generalization directed to any one who may be interested in the subject..... Don't worry Bobby I know you know your stuff
as far as your mom she's right....
I am certainly not tossing anything anywhere....
I don't believe my net worth is necesarily being discussed and for that matter compared against any one elses.
All I simply did was reply to being called a nuckle head for leasing.... and took the opportunity to expand on the whole lease deduction subject......
cobra what exactly makes you think that what I am doing is illegal? I certanly haven't discussed what I do with any one, why would you assume that what I do is illegal....
Last edited by UnderdogZ; 08-01-2006 at 05:50 PM.