Tax Benefits of a Maserati Lease

October 5th, 2022 by

There are, undeniably, plenty of perks that come along with securing a Maserati lease at Maserati of Omaha. Did you know, there are also tax benefits? Let’s explore some of them.

Can I Claim a Lease on My Taxes?

If you use your vehicle for work, you can deduct your auto expenses on your federal tax returns. If you also use it for personal use, it can still be a deduction, you’ll just need to determine how much of your driving is business-related.

There are two main ways you can do this:

  • Actual expenses deduction – Lets you claim your expenses, including your lease payment, as well as your insurance, maintenance, and fuel costs.
  • Standard mileage rate deduction – Lets you claim your miles driven. You’ll need to keep a mileage log to track your business-related driving. Then, you’ll use the rate set by the IRS, as well as the total miles driven, to determine the total deduction.

Keep in mind, when leasing, you have to stick with whatever option you choose through the remainder of your lease. So, make sure to carefully consider your options before committing to one or the other.

Is My Interest Tax Deductible?

Yes, you can also claim the interest you pay on your auto loan as one of your business expenses. In order to deduct your interest, you must be self-employed or a business owner and use your vehicle for business purposes. If you are someone else’s employee, you cannot claim your interest.

Thinking that a Maserati lease is perfect for you and your business purposes? Visit our Maserati dealership in Omaha to take a test drive with our team. Then, stop by our financing office to find out how to get into a beautiful new Maserati car or SUV today!

Posted in Finance