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15
Sep

7 Reasons to Lease a Used Commercial Truck

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Many companies and self-employed people throughout Canada require commercial trucks in order to facilitate their businesses. Truck leasing has become a common if not preferred financing option due to the many benefits it provides, but perhaps what is most intriguing is that more and more of these leases are for used trucks rather than new vehicles. With that in mind, let us consider seven reasons to lease a pre-owned vehicle rather than one fresh off the line. Avoidance of Significant Depreciation Among the most daunting aspects of owning new commercial trucks is depreciation. Your new truck depreciates the moment you sign on the dotted line. A used truck, on the other hand, has already undergone that initial depreciation and is now just subject to the year-to-year devaluation. It’s worth mentioning that commercial truck leasing and vehicle leasing, in general, do account for depreciation to some degree but certainly not all of it, and since there’s less value to lose, that lesser amount is reflected in the cost as well. Relaxed Credit Standards Credit standards are something that all businesses and…

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6
Dec

Everything You Need To Know About The Section 179 IRS Tax Code

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The Internal Revenue Service (IRS) is a government agency that is part of the Department of the Treasury. This agency is responsible for tax collection and providing assistance to taxpayers. Tax assistance can come in the form of deductions, rebates and bonuses. One specific instance of tax assistance is the Section 179 Tax Code deduction. You have perhaps heard of this deduction but aren’t entirely sure if your business can benefit from it or how exactly it is implemented. The Section 179 IRS tax code is not a complex operation. It is designed to offer tax relief to businesses, specifically those that are small in nature. So, how does it work and what do you need to claim this tax relief? Here’s everything you need to know about the Section 179 IRS tax code: What is the Section 179 tax deduction? The IRS Tax Code’s Section 179 was created to…

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