seep: he/she/it: seeps: present participle: seeping: past tense: seeped: past participle: seeped
If you lease a new car for use in your business, you will probably be able to deduct the lease payments from your taxes as a business deduction. However, you need to be careful and keep track of all the miles you spend in the car and whether the miles traveled are for business or personal reasons.
Itemizing Deductions. To be able to deduct your car excise taxes -- whichever type -- you also need to itemize your deductions. When you itemize your deductions, you list all of them on Schedule A, add them up and subtract them from your income. By doing so, you give up the ability to claim your standard deduction.ar Taxes. Buying a car opens you up to at least two different taxes. When you purchase a car, you typically pay sales tax as you would for any other taxable purchase. Buying a $21,000 car in a state with 6 percent sales tax costs you $1,260.