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Benefits of a Non-Tax/Capital Lease
Business owners who buy capital equipment - equipment, computers, and other tangible goods, usually prefer to deduct the cost in a single tax year, rather than a little at a time over a number of years.The benefit of a Non-Tax or Capital Lease is that they can take advantage of Section 179 and expense up to the amount allowed for the year the equipment is installed. You may
depreciate any excess on the depreciation schedule for that particular asset. Examples of this type of lease include $1.00 Buyout and 10% Purchase Upon Termination (PUT) leases. Since tax situations differ, please consult a tax advisor about the specific benefits on your business. .
Tax Code 179
Deduction Calculator
Tax Code Section 179 & Election to Expense
For taxable years beginning 2010, the Section 179 expense limit is reduced to $134,000, and the maximum deductible expense must be reduced dollar for dollar for investments of more than $530,000 in qualifying property. Companies cannot write off more than their taxable income. For more information, contact your tax advisor or visit www.irs.gov and reference Form 4562.
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