Buy vs. lease: Business equipment edition
Life presents us with many choices. A common conundrum for business owners is whether to buy or lease their companies’ equipment. Some still take pride in owning their assets. If you do, work to pass along this dedication to employees. Also, consider enhanced tax breaks under the Tax Cuts and Jobs Act for purchasing. Meanwhile, leasing offers the flexibility to more easily upgrade equipment, along with a lesser initial cash flow hit. You can also deduct lease payments as business expenses, but you may soon be subject to new accounting rules. Contact us for help.