Business owners often weigh the benefits of office equipment leasing versus purchasing the equipment they need for a new business or when business is increasing beyond present capabilities. Even when older equipment you presently own doesn’t have the features or power your employees’ desire, you can take advantage of the latest technology through equipment leasing in Buckhannon.
5 Benefits of Equipment Leasing
1. Keeps Your Cash Flow
When you lease equipment, you can budget your monthly payments while keeping your business’ working capital for other expenses such as increased inventory. A company can never have too much cash on hand for unexpected business-related emergencies. Clearing out your cash reserve can keep you from taking advantage of an unexpected opportunity where you may need to travel or hire extra help.
2. Replace Obsolete Equipment
Leasing gives you access to the latest technology and features that will allow your employees to work smarter and faster. Older equipment is often slow, has more break-downs, and may be a source of wasted money in maintenance and repairs. When you lease, you get clean and inspected equipment and any repairs are often handled by the leasing service or directly by the manufacturer.
3. Benefits Your Balance Sheet and Taxes
When you finance new office equipment, you are increasing your debt ratio which makes it harder to secure financing for other, larger projects or purchases. Monthly lease payments are a business expense that actually benefits your company when tax time rolls around, as long as the equipment is necessary for conducting your ordinary business.
Actually, you should speak with your tax advisor because you may be able to deduct all your lease payments from your current earnings when you file your corporate taxes.
4. Be Flexible With Customer Demand
Often, equipment is leased to keep up with an increase in customer demand that may occur during the change of seasons, holidays, or when tax refunds allow customers a hefty sum of cash for spending. When expanding your business to offer a new line of services or products, it can be a good business decision to lease the new equipment to make sure your new venture is successful.
5. As An Emergency Back-up
What can you do if your office printer goes down just when you’ve taken on a new client and they’re expecting a ton of information. In a business emergency, leasing equipment in Buckhannon means your operations keep going with quick delivery of the latest office and business equipment – for as long, or as little time as needed.
When you need to lease office equipment for your business, contact Hart Office Solutions today. Leasing office equipment is a sound financial decision that can also save you money on taxable operating expenses.