Car payments and taxation
I need help from some savvy accountant types.
I will soon be working as a contract sales person in real estate. I know this entitles me to some tax benefits in regards to car payments, but don't quite know the details.
As, I'm buying a new car, I want to figure this out first, since it will effect my decision on how to buy.
If I choose to lease, finance or buy outright, how does this change my tax exemption?
Do I need to by making monthly payments to right anything off? and if so, can those payments be to a Line of Credit? or do they have to be direct car payments to a lease or dealer finance?
thanks
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