The Benefits Of Leasing Equipment In Montclair, NJ
Having the best tools and equipment plays a big part in the continued success of Montclair, NJ businesses. Whether you own a restaurant, a construction company, a healthcare facility, a manufacturing plant, or a transportation business – being able to get access to the equipment you need at affordable prices makes a huge difference. However, the upfront price of purchasing the equipment you need can often be cost-prohibitive. Taking out a bank loans to cover the cost and placing additional debt on the balance sheets is not always in the picture. For these reasons, many entrepreneurs are leasing equipment in Montclair, NJ.
Leasing Equipment In Not The Same As A Loan
Leasing equipment in Montclair, NJ is not the same as taking out a loan to cover the upfront cost when making a large purchase. Leasing equipment does not place any debt on the balance sheets. Instead, the cost is broken down into manageable monthly payments. This gives business owners in Montclair, NJ more financial flexibility, and the ability to preserve credit ratings.
Tax Advantages To Montclair, NJ Business Owners
Leasing equipment confers huge tax benefits to business owners in Montclair, NJ. All payments made on leased equipment fall under Section 179 of the IRS Tax Code. This means the monthly installments are fully deductible up to $500,000 annually. Those are big savings every year for businesses in Montclair, NJ that lease equipment instead of purchasing it. It should be noted that leased equipment does not confer savings due to depreciation, because depreciation is only for owned equipment.
Business owners in Montclair, NJ have a wide range of options available when structuring an equipment leasing agreement. Business owners can get cleaning and maintenance of equipment bundled into the agreement. Additionally, there are options to purchase at the end of agreement terms. Perhaps the biggest option available is the ability to upgrade to the latest and greatest equipment as it becomes available. No longer do business owners have to hold onto outdated equipment – especially in highly technical industries. Equipment leasing gives Montclair business owners the ability to upgrade, so they always have the best tools and equipment at their disposal.
The Best Equipment Leasing Agreements In Montclair, NJ
If you want to take advantage of everything equipment leasing has to offer, call The Capital Lenders at 973-577-4226. We provide equipment to businesses spanning all industries in the Montclair area. Contact us to today to find out more about our equipment financing programs, and put our expertise to work for you.