xojins[at]iwon.com says...

- quote -

Is the car used for business? As to your figures, because
the car is leased, more information is needed to determine
if you will even have a loss.

Gary

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I live in New York

Hi all. I was wondering if anywone could answer this
question:

I have a 2003 2 seat convertable that I leased 9 months ago.
My wife is now pregnant and we need to get rid of the car. I
am going to loose money getting rid of it cause the buyout
is 34k and the book on it is 25k. One dealer offered to bury
9k that we would owe into a new lease. My question is that
would I be better off getting a personal loan and finding a
way to write off the loan through my business or would I be
better off burying the loan and writing off part of the loan
as a business expense?

Thanks.

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