Office Equipment and Section 179, what you need to know, and how combining with a lease option is a winning combination.
The end of 2019 is upon us and Tax season will be here before you know it. As a business, you need to take advantage of all available office equipment deductions. This post will tell you how to get the most out of the Section 179 deduction for 2019.
First we need to explain how section 179 works. Section 179 allows business to deduct the full purchase price of most equipment, like copiers, printers, scanners and more.
Section 179 & Office Leasing – A Winning Combination
With the section 179 deduction, you can reduce your tax liability in the first year. With Leasing, you conserve cash, preserve your credit and improve your business’ cash flow. Taken together, the two can be a winning combination for your business
Since the Section 179 deduction applies to equipment acquired through a purchase or a lease, why not consider leasing for your next office equipment acquisition? With leasing, you’re still eligible to take the full purchase price
of equipment – whether new or used — under the Section 179 provision, but
only pay the monthly out-of-pocket lease payment. – also this time of the year is a great time to lease, with 90 days deferred, you could lease your new office equipment and not have to make a payment till 2020.
Lease or purchase?
Which makes better sense for your business?
When looking to purchase or lease your next piece of office equipment contact an authorized local office equipment dealer. They can best explain the types of equipment and options for lease and deductions available.
Always consult your tax adviser for more information and to see if you qualify for section 179 equipment deduction.
This content is provided by: Innovative Office Solutions – 500 McCormick Drive, Suite N-P Glen Burnie, MD 21061 – 410-766-0200