Reported 8 months ago
Real estate mogul Grant Cardone suggests that Americans should lease all cars except for one specific vehicle, the $150,000 Range Rover, weighing over 6,000 pounds. Cardone highlights the tax benefit of being able to write off 100% of the purchase price due to IRS Section 179, aimed at business vehicles exceeding 6,000 pounds. By leasing other high-end vehicles like the Rolls Royce Cullinan, Cardone leverages monthly lease payments as business expenses to maximize tax deductions. Consultation with a tax professional is recommended to ensure compliance with IRS regulations when considering such strategies.
Source: YAHOO