Equipment Financing Tax Benefits with Crestmont Capital
Smart business owners know – it isn’t about how much revenue you generate, it is about how much you retain. Creating a plan to maximize earnings while minimizing income taxes is key to running a profitable venture. The bottom line… Don’t pay a penny more in taxes than you have to. By partnering with Crestmont Capital, you can secure the equipment, tools, and technology that you need, while also taking advantage of significant tax benefits… now set to $500,000 for the foreseeable future! The Section 179 tax deduction is a lucrative and important tax break that has been made permanent across the board. As part of the Protecting American from Tax Hikes Act (PATH Act), small businesses like yours can claim one of the biggest tax deduction possibilities ever — Section 179
You apply for an equipment leasing or financing program or working capital loan that helps you to obtain the equipment you need. Then provide your tax consultant with the terms of the Crestmont Capital lease or loan, and your tax professional will then initiate the Section 179 deduction when preparing your financial statements and tax returns. You’ll get the equipment you need to run more efficiently, and your bottom line will benefit from a much lower tax rate. This tax rule has been made permanent, so budgeting and planning for the future has been made that much easier. We will help you to structure an equipment lease that meets your needs and fits comfortably within your budget. Together with your tax consultant, you can reap the enormous tax-saving rewards that are currently afforded to U.S. small business owners.
Understanding Tax Section 179
Some people think Section 179 is some mysterious or complicated tax code. It really isn’t, essentially it means if qualifying equipment is bought (or capitalized), the deduction is on the full purchase price from gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves. For additional information, visit section179.org.
The main benefit of a finance agreement or non-tax capital lease is that it can take full advantage of Section 179, yet make smaller payments. Under this tax code provision the government allows small business tax payers the ability to acquire and write-off certain amounts on qualified equipment ownership. A small business managing cash flow can leverage a lease or finance agreement to minimize out-of-pocket cash and still take advantage of Section 179 deduction. The amount you save in taxes can actually exceed the payments, making this a bottom-line friendly deduction.