Tax Benefits of a MAZDA Lease

October 20th, 2022 by

Did you know that vehicle in your garage can put money back in your pocket? If you have a Mazda lease, it could give you a host of tax benefits. Here at Med Center Mazda, we want businesses and business owners to know the facts about what qualifies them for tax benefits with their Mazda lease.

Tax Benefits You Can Get with a MAZDA Lease

In order to qualify for tax benefits, you need to show that the Mazda vehicle that you leased is primarily used for business purposes. That means for more than 50% of the time you use that vehicle, you are using it strictly for business.

Typically, some working drivers might use their vehicles to haul their equipment or gear or to get to their client’s homes and businesses. However, they also sometimes use the work vehicle to take their kids to school or stop at the grocery store. This person can still qualify for tax benefits as long as they drive the vehicle for work more than 50% of the time.

The tax benefits don’t end there. You can write off a ton of expenses with your leased vehicle. This includes gas, oil, repairs, and even fees like parking and road tolls. Make sure you keep all of the receipts so you can bring them to your tax professional once tax season starts.

Visit Med Center MAZDA for More Information

The benefits you get highly depend on your lease agreement and the vehicle you choose. Make sure you consult a Mazda finance expert like the ones here at Med Center Mazda for more information.

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