If you're going a dedicated car lease transfer website, the timeframe can usually vary from 10 days to 6 weeks. This is because there is paperwork that needs to be transferred and disseminated between at least three parties - the lease seller, the lease buyer, and the finance company.
Yes, corporations can deduct lease payments. Property lease payments and vehicle lease payments are deductible in the year paid or accrued.
No we will not incurred executorycosts in aggregate lease paymentsMinimum Lease payments : Minimum rental payments + guaranteedresidual value + penaltyfor not renewing or extending lease + bargainpurchase optionMinimum rental payments: Regular payment to lessor, exc'lexecutorycosts (ie.insurance,maintenance, tax).
Sure, all the payments are invariable and they will not change. There will be no surprises with a higher payment later.
Yes, all the bank cares about is that someone is making the payments.
increase rent expense by payment amount (debit) reduce cash by payment amount (credit)
Go to timevalue.com website and open the page containing 'TCalc Financial Calculators' page from the site's 'Product' menu. There you will find the Lease Payment Calculator where you have to enter the Lease Amount, Lease Rate, Residual Amount, Lease Term and Number of Advance Payments. After that, click on the 'Compute' button to get the amount.
Online Lease Payment Calculators can be found on multiple car and insurance websites. For example, car sales websites will have a calculator to determine monthly payments and overall interest on a car for sale.
A payment calculator determines how much you pay by calculating you detailed payments, taxes and total lease. With that information it chooses the quantity.
There are several reasons why someone might want to swap a lease. It could be because their financial situation has changed and they can no longer afford the payments, they no longer need the vehicle, or they simply want to get into a different car. Swapping a lease allows them to transfer the remaining lease term and payments to someone else, relieving them of the financial responsibility.
This will depend on your accounting method that you use. If you are a cash basis business, then it is recognized when lease payments are received. If accrual, you could justify amortizing the payment but I cannot imagine why you would want to. I am assuming you are lessor in your question and not the lessee. If you are the one leasing the property, you cannot take a deduction for a lease payment you did not make.
IRC Section 1241 specifies that payments received by the lessee for the cancellation of a lease are to be treated as a payment in exchange for the sale of the lease. Assuming you were using the property (as opposed to holding it in inventory, for example you were a real estate broker), the lease would be a capital asset. So the payment would be a capital gain (long or short term depending on how long you held the lease).
You cannot lease a truck for someone else, unless you have a commercial lease on a vehicle. You could lease a truck, but the title must be in your name. You can certainly make payments for someone else, but the credit will always go towards the lessee.