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To lease a car in the name of your business, there is a correct way to do it. The car becomes a business asset, allowing you to deduct the associated costs. You have two options for writing off a leased vehicle: the actual expense method or the standard mileage method. The actual expense method includes lease payments, sales tax, repairs, maintenance costs, and insurance payments. The standard mileage method allows you to write off mileage. No matter which option you choose, remember these three things.