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| Commercial Lease | ||
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The term commercial lease, sometimes called "business lease," as applied to car leasing, refers to the concept of leasing motor vehicles for use in a business, for business purposes. Generally, a commercial lease provides a more convenient and less expensive alternative to the cash purchase option. It allows for better use of a business' cash resources and offers potentially significant tax advantages at the same time. Be aware that any tax benefits of car leasing apply only to the percentage of use for business purposes, and that such use of a vehicle must be clearly documented. Because each business is unique and tax situations vary, it is suggested that any commercial lease be done only with the advice of appropriate accounting and tax counsel. For more information, see: The Lease Guide
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