As Tax Day approaches, many businesses are focused on tax deductions, equipment depreciations and tax savings. Equipment leasing is a smart choice for business owners looking to acquire new equipment for a number of reasons. Equipment leasing can also benefit businesses during tax time as well.
Use Tiger Leasing's Equipment Leasing Tax Savings Calculator to find out how you can lower the true cost of ownership on your business equipment. Our Equipment Leasing Tax Savings Calculator is easy to use, and you can have an estimate of your savings immediately.
Recently, the Hiring Incentives to Restore Employment Act (HR 2847) was passed. This bill extends the increased section 179 deductions through 2010. This amount had been increased to $250,000 for 2009 by the American Recovery and Reinvestment Act. Non-Tax/Capital Leases allow you to take advantage of Section 179 deductions for recently leased equipment. These equipment leases also allow you to depreciate any excess as determined by the depreciation schedule for that asset.
Equipment leases allow for other tax benefits, so contact your tax professional today. For an estimate of your tax savings, and the cost of your equipment acquisition, use our Equipment Leasing Tax Savings Calculator.
Our Equipment Leasing Tax Savings Calculator is just a tool for estimating your savings. Please contact your tax professional to learn about the specific impact to your business.