What to look for in an Equipment Loan Agreement
What to Review
- The term and how many advance payments are being applied to the term
- Do you own the equipment at the end of the term
- Is the lien on the equipment or is it a blanket lien on my business
Section 179 Allows a Business to Expense their Equipment Purchase
As of 2024, the Section 179 deduction limit is $1,160,000. This means that businesses can deduct the full cost of qualifying equipment and software purchased or financed during the tax year.
5 Benefits of Buying New Equipment For Your Business
The decision to upgrade or purchase new equipment is critical to the success of your company’s growth. Businesses can reach a point where they have reached a stalemate and must invest in their operations for them to expand and become more profitable in the future.
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