oneil_ex4


Exhibit 4: Lease or Buy–Input Range
Instructions: You may find information about leasing or purchasing an auto from one of these sites.
www.carpoint.msn.com

www.autogiant.com

www.carsdirect.com

www.driveoff.com

www.leaseguide.com

www.carinfo.com

www.leasespy.com

Input variables  
General information:  
Employee or self-employed (1 or 2)
Monthly payments in year 1
Marginal tax rate
Sales/Use tax
Qualified business use %
Discount rate

2
12
39%
7.05%
80%
8%

Purchase information:  
Purchase price, before sales/use taxes
Downpayment
Interest rate, if financed
Number of monthly loan payments

$37,730
$250
8.15%
60

Lease information:  
Number of monthly payments
Fair market value
Monthly payment, before sales/use tax
Downpayment
Residual value/Trade-in allowance
Lease termination fee

60
$37,730
$ 609.67
$250
$10,326.25
$350

SPONSORED REPORT

How the election may affect taxation of business income

This report summarizes recent proposals to reform the U.S. business income tax system and considers the path to enactment of any such legislation.

VIDEO

How to Excel pivot a general ledger

The general ledger is a vast historical data archive of your company's financial activities, including revenue, expenses, adjustments, and account balances. J. Carlton Collins, CPA, shows how to prepare data for, and mine data with, PivotTables.

QUIZ

Did you follow 2016’s biggest accounting news?

CPAs will remember 2016 as a year of new standards and new faces. How well did you follow the biggest accounting events? The 7 questions in this quiz will help you find out