For thoses of you who do not have ready cash for new machinery, I can now offer you Lease Financing.
The IRS, does not allow you to deduct your full payments made, for machinery, from your tax bill, when you borrow money from your bank.
With Lease financing, your allowed to deduct the full amount you have paid all year long. In most cases, at the end of your lease term, you buy the machinery from the Lease company for as little as $1.00. It can be up to 10% of the appraised value at the end of the Lease, or less. This depends on the state laws where you live. Sort of like a lease to own. Up to 60 month's, for most leases.
EXAMPLE, you borrow from your bank for some machinery, and say you have a bank payment of $450.00 per month. The IRS will only allow you to write off the interest paid in that tax year, and none of the principal.
Leasing, works like this,
You have a lease payment of $450.00, the IRS, allows you to write off the entire amount you have paid in that tax year.
$450.00 X 12 month's, = $5,400.00...
If any of you guys are interested, contact me, either here on AZ, via, PM, or @
poolcues@hctc.net
or call me @ 830-232-5991........
The process will only take a few minutes with me to give prices on the machinery you have in mind, and I'll have the lease folks call you direct, for all the detailed information.
Leases for a "NEW" start up business, can be had for as much as $13,500.00, [meaning no checking account for your cue-repair or cuemaking business]. Most guys who do this as a side line, have no checking account to back up there business. This would be considered a new START UP BUSINESS.
Banks normally want at least, 20% cash down. The leasing company requires only the first and last month payments when you sign the contract with them.
Please call with your questions, I'll have answers for you.
Thanks for your time,
Blud
The IRS, does not allow you to deduct your full payments made, for machinery, from your tax bill, when you borrow money from your bank.
With Lease financing, your allowed to deduct the full amount you have paid all year long. In most cases, at the end of your lease term, you buy the machinery from the Lease company for as little as $1.00. It can be up to 10% of the appraised value at the end of the Lease, or less. This depends on the state laws where you live. Sort of like a lease to own. Up to 60 month's, for most leases.
EXAMPLE, you borrow from your bank for some machinery, and say you have a bank payment of $450.00 per month. The IRS will only allow you to write off the interest paid in that tax year, and none of the principal.
Leasing, works like this,
You have a lease payment of $450.00, the IRS, allows you to write off the entire amount you have paid in that tax year.
$450.00 X 12 month's, = $5,400.00...
If any of you guys are interested, contact me, either here on AZ, via, PM, or @
poolcues@hctc.net
or call me @ 830-232-5991........
The process will only take a few minutes with me to give prices on the machinery you have in mind, and I'll have the lease folks call you direct, for all the detailed information.
Leases for a "NEW" start up business, can be had for as much as $13,500.00, [meaning no checking account for your cue-repair or cuemaking business]. Most guys who do this as a side line, have no checking account to back up there business. This would be considered a new START UP BUSINESS.
Banks normally want at least, 20% cash down. The leasing company requires only the first and last month payments when you sign the contract with them.
Please call with your questions, I'll have answers for you.
Thanks for your time,
Blud
