Maximize 2020 business equipment tax benefits.
As year-end approaches, keep in mind the potential tax benefits of turning business equipment cost into affordable monthly payments. The expanded incentives for business investment mean that companies could get big tax savings by investing in new or upgraded equipment before year-end. More importantly, using lease financing to acquire this equipment significantly enhances cash flow. Two great reasons to take action before year’s end.
Here’s an example of how it works (assuming a 21% tax bracket):
- Equipment or Technology investment: $25,000
- Total First Year Tax Deduction: $25,000
- Tax Refund on Equipment Investments: $5,250
- Adjusted Cost of Equipment Investments After Tax Savings: $19,750
Delaying investment in new or upgraded equipment or technology until next year could leave money on the table. Pairing the tax benefit with an affordable lease financing solution can further enhance the savings.
Estimate the monthly payment you could qualify for using our QuickQuote Calculator.
Make sure you consult with your tax advisor to understand your eligibility and to discuss any specific questions you have about these tax benefits.