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Buy or Lease?
Rhonda Abrams in USA Today:
Congratulations, you’re starting or growing your business. But you’ve got to spend money on equipment, computers, furniture and vehicles. With each, you face the same question: Should you buy, or should you lease?
- Buy less expensive items; lease more costly ones. It doesn’t make much sense to lease a fax machine or printer — they’re only a few hundred dollars. But if you need a major piece of equipment, don’t tie up your cash.
- If you’re unsure of your plans, get short-term leases. Don’t burden yourself with a lot of stuff you won’t know what to do with.
- Check with a tax adviser. Always understand the financial and tax implications of leasing vs. buying for your individual situation.
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Peter on May 12th, 2006 11:58 am
Hello Dane,
Last year you contacted me and requested a complimentary copy of theSmart Startup Guide.
It’s been a while and I am following up.
Have you read it?
Peter
http://www.antiventurecapital.com
Chloe DiVita on May 13th, 2006 8:30 am
Hello Dane,
I’m a fairly new blogger whose interest is small business, and not all small businesses, just those that are privately held. Too much emphasis seems to be placed on public companies, but I find it’s the smaller, less visible companies that really need guidance. My company caters to those businesses, and it’s great to see someone recommending people consult with a tax advisor. So often I run across new businesses that think everything is much easier than it is. They make the wrong decisions because they have done some research and are confident in their conclusion. But, they haven’t taken the time to review their findings with a professional. Unfortunately, the United States’ tax system is extremely complex, and can be hard to interpret. It’s worth spending a little extra cash to get things done correctly from the start.
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