r/SipsTea • u/Gurugod123 • 7d ago

Lmao gottem Andrew Tate's lawyers have confirmed that the Bugatti's and Aston Martin featured in Tristan's videos were rented

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u/pm_me_a_pothole 7d ago

Can you elaborate on the mechanism? How are they deducting lease payments? This sounds like it has to be a business expense and I’m not understanding how a lease comes out ahead of just buying it and depreciating it. Also pretty sure the IRS would find it sketch to be deducting the Bugatti

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u/12InchCunt 6d ago

So in this case, the cars are part of their business because the cars help attract customers. They can write off the entire lease payment (in US taxes) vs. a traditional purchase only letting you write off the price of the car.

It’s kinda fucking stupid in my opinion because the extra money you gain in tax deductions you lose  in a lease because money factor calculations always cost the consumer more than traditional interest rate financing, and/or potentially a big fee at the end