One of the questions I’ve been getting a lot lately is, “Is it better to lease a car for business purposes and can I claim the lease payments on my taxes?”

The short answer is: Yes to both.

The more detailed answer is: …but there are caveats to how you can claim the deductions.

Leasing a new automobile is a great idea if you put a lot of miles and wear and tear on your vehicle for business travel, but as with most tax issues there’s a lot of “mental wear and tear” that go along with how to list these deductions.