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.
Buying a Car. From an income tax perspective, if you are eligible to deduct car expenses from either your business or employment income, the deductions available over time are the same whether you lease or buy. What you spend on the cost of your car is deducted at a rate decided upon by the Canada Revenue Agency (CRA).