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Are there tax benefits or areas to save money through leasing equipment?

April 26, 2017areas Benefits equipment leasing save money tax

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Are there tax benefits or areas to save money through leasing equipment?

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Pro: The full cost of leasing equipment is generally deductable from taxable income. Pro: Leases lasting 5 years (sometimes 7) allow for the cost of your assets to be claimed as capital allowances. Con: Capital allowances cannot be claimed for assets on leases that are less than 5 (sometimes 7) years. For more information on the tax advantages and disadvantages of leasing equipment, review the IRS Guidelines.