Tax Tip Tuesday

(I've written these blogs and am just now getting around to posting them.)

I have a couple shows that I watch regularly.

But very few that I will not miss.

One:



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Confession: I have watched new episodes of Top Chef on YouTube at work on my smartphone in 10 minute clips.  Talk about desperation.

Two:

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Another foodie show...but I love Scott Conant.  Almost as much as Richard Blais.

Come to think of it, pretty much all of "my shows" are foodie shows.  The only one that is not is...

Three:



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 I know I've talked about this show before.  But hang with me...it does plan into my tax tip.

During the first season, you fall in love with Dr. Hank Lawson, a lovable ER turned concierge doctor. 

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And you get to know Hank's goofy, bean counter CPA brother, Evan R. Lawson, CFO of HankMed.

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Over the past three seasons, I've fallen out of love with Dr. Hank.  Too perfect; too dependable; too boring.  And am head over heels for Evan.  I know...it's fate.

But I wanted to scream at my TV at the end of last season.

CPA Evan decided to lease a brand new 2011 Toyota Sienna for HankMed.  And then proceeded to talk about why leasing is so much better for your taxes.

This is such a common myth among businesses.

They lease everything.

Yes, when you lease you get to deduct the amount of you monthly lease payment.  But it's a horrible financial decision.  You don't pay the bank 100% to avoid paying the government 25%.  Bad math. 

But hopefully not too many people are getting their tax advice from tv.

Let's hope anyhow.