09 Aug Top 3 Reasons to Lease Office Equipment
Leasing gives small and medium sized businesses access to the equipment they need to succeed. Here are the top three reasons to lease your office equipment.
Leasing provides several advantages over buying when it comes to office equipment. Firstly, leasing makes it easier to get new equipment when you’re ready to upgrade. Another benefit – you won’t be stuck with obsolete equipment that you can’t resell. Better equipment increases your productivity and saves you time. Modern tools like Kyocera Mobile Print and PinPoint Scan help out as well. Follow the links to learn more about these applications.
Tax and Financial Advantages
Section 179 of the IRS tax code allows businesses to write off the total amount of the leased equipment for the year you start the lease (with some restrictions). Also, you can deduct your monthly lease payments as operating expenses. Section 179 is a great way for small to medium sized businesses to get the equipment they need for success. Consult with your tax advisor to learn how to best utilize Section 179 for your business.
The initial expense of leasing office equipment is lower than buying new equipment. This is especially important for new businesses with low cash flow since most equipment leases don’t require a down payment. It is also generally easier to get loans for leases than loans for purchasing equipment. Leases also cover maintenance and repair.
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