Leasing Software

According to a Dept of the Treasury fact sheet:
“In general, income from a lease, rental, license, sale, exchange, or other disposition of software developed in the United States qualifies for the deduction, regardless of whether the customer purchases the software off the shelf or takes delivery of the software by downloading the software from the Internet.”

So does this include work I do as a contract software developer? In this case, I am essentially selling my software to my client, even though it is not an off-the-shelf product.

Looking for some real-world advice here, preferably from other contract developers. Thanks!

The IRS publications just say you can deduct “sales tax paid on leased vehicles,” but doesn’t say how to calculate that. Does that mean to take the sum of the sales tax on all of the payments for the tax year, or figure out the sales tax on the amount that used used for calculating the lease? If the former, does that mean you can do it every year, or only the year in which you leased the vehicle?

I have owned the property over a year.
If I sell the lease for 100K.
How much do I pay in taxes on that?
Is 15% all I would have to pay in taxes?

Also, is there any paper work I should have for my accountant to receive the credit?

My wife uses our leased car for her business. But the lease is only in my name. Can she still claim the car lease payment as a business expense?

The 36-month loan or lease would spread the tax payment over a 3-tax-year period.

I am moving to SC and I understand there is personal property tax on cars. We don’t have that in FL so I am unclear on how it works. thanks.

I’ve got a situation where I’m not sure if I’m being too creative, so I’d like to get some advice from any accountants out there.

I have 2 companies, a C-Corp and an LLC. The LLC buys equipment (such as trucks & contracting equip) then leases that equipment to the operating company. The equipment is on a 5 year depreciation schedule. Investors in the LLC are paid a return and gain tax advantages from the depreciation. The operating company is harder to sue. Here’s 2 issues:

Can I have the LLC buy a website from a website design consultancy (a website designed for the operating company’s brand/industry/business), then list that website as an asset on the balance sheet. THEN can I depreciate that website over 5 years (reason being that the website will depreciate due to new technology becoming available, changes in our business/industry, etc.). THEN can I lease that website to the operating company for LLC income? Obviously I’m going to run this by my accountant, but I wanted to hear some other opinions before doing that. I’m in California, btw, if it makes a difference.

1- I turned my leased car in and received a refund, do I need to
show it on my taxes when I file, and in which section?
2- Can you claim car insurance premiums? ( I couldnt find anything addressing that on tax slayer)
3- I made a donation to salvation army - about 15 bags of clothes and shoes - they gave me a receipt but they did not itemize -or specify a dollar amount, How should I claim it ?
Thanks

Anyone have a citation for the Rules regarding Tax Deductions on Leased Car Payments (Company Cars)

Looking for Florida and New York Rules…

I ask because I am Vice President of a painting contracting company located in New York. I do all my work from home and fly to New York only when i absolutely have to.

The reason why I am a domiciliary of Florida is because I am attending Law School.

Would I be able to lease a car as a “company car” and deduct the payments if I conduct all my work and business from my laptop/cellphone at home and on the road with the corporate office being in New York?

Do not answer with nonsense just to get points…you will be reported to Yahoo!
Also I have Westlaw & Lexis Nexis access so if you want to point me to the correct database I can research it on my own
In response to 12345678’s post to clarify any confusion: I am going to lease the car under the company but thats why I am concerned with the tax deductions because the company’s money is my money.
Damion reported for advertising