D&M Leasing is a well-established Grand Prairie, Texas, firm that serves customers spanning Dallas, Fort Worth, and Houston. Established in 1976, D&M Leasing facilitates automobile trade-ins and acquires the exact vehicle desired when undertaking customer-focused leases.
Major advantages enjoyed by D&M Auto Leasing clients include tax-deductible business-use arrangements, whether for commercial fleets or equipment leasing. Even the use of a single vehicle for business purposes can offer major tax benefits.
Under IRS rules, the costs of operating and maintaining a vehicle dedicated exclusively for business purposes are fully deductible, with the exception of commuting between home and the workplace.
Careful record keeping is essential, as many people combine business and personal uses within a single vehicle. In this case, vehicle costs associated with business activities must be clearly delineated from time spent commuting and attending to personal errands. In preparing taxes, the car owner or lessee must calculate the total number miles driven and those driven for business purposes. This enables an accurate estimation of deductible vehicle expenses.