Jersey City Equipment Leasing: 3 Benefits For Business Owners
Jersey City business owners understand that regardless of the industry, success is based in part on having access to the best equipment. However, the initial cash outlay for equipment can be very cost prohibitive. Many businesses in Jersey City wind up taking out sizable loans to cover the cost of equipment, which can place a strain on finances. Recently, more local businesses are turning to Jersey City equipment leasing agreement for the big benefits offered to entrepreneurs.
Jersey City Equipment Leasing Is Affordable
Jersey City equipment leasing agreements are much more affordable than going through the process of purchasing equipment. Instead of paying a large upfront sum to get the equipment your business needs, leasing agreements spread out the cost over low monthly installments. This allows businesses to get the equipment they need without placing a strain on finances or taking on unnecessary debt through loans.
Equipment Leasing Agreements Cover More Than Machinery
Jersey City equipment leasing agreements offer businesses much more than machinery. Local business owners can get access to vehicles, fixtures, computers, desks, software suites, office furniture, and more. Equipment leasing agreements cater to businesses across all industries in Jersey City, from industrial to medical, IT, freight carriers, restaurants, and even niche startups.
Jersey City Equipment Leasing Agreements And Taxes
When local businesses purchase equipment, the initial purchase can be deducted on tax forms. After that, the equipment depreciates in value. After a few years, Jersey City business owner usually sell off old equipment at a steep discount compared to the initial cost, take out another loan, and start the purchasing cycle all over again. Jersey City equipment leasing agreements provide the ability to take deductions without any of the hassle of depreciation. Every year, local business owners can deduct all payments made on equipment leasing agreements up to a maximum of $500,000. The best part is that as equipment gets used, or new models become available, businesses can trade up without having to take the same financial loss as with purchasing equipment. Both in the short and long term, Jersey City equipment leasing agreements offer big savings and more financial flexibility.
At The Capital Lenders, we offer the most comprehensive equipment leasing program in Jersey City. Whether you are just launching your operations, or looking for a more cost-effective way to get equipment with more savings and benefits, contact our offices at 973-577-4226.