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17
Jun

Tips for Leasing a Truck

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Tips for Leasing a Truck

Many people dream of being their own boss, and one exciting and fairly easy way to do so is to become a truck driver with their very own truck. However, some people become so enthused by the prospect of becoming an entrepreneur that they will dive head first into a lease that can be best described as predatory. The end result is that many gullible but well meaning drivers will end up very deep in debt, and will actually take two steps back instead of a step forward toward realizing their ultimate goal. However, you can avoid such pitfalls and…

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12
Jun

Should You Buy or Lease a Trailer?

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Should You Buy or Lease a Trailer?

Many professionals will soon discover that owning a trailer can yield great dividends sooner rather than later, as trailers are a staple in many different industries, including the construction and agriculture industries. In fact, many business proprietors will end up investing heavily in a trailer, or several trailers, in order for them to remain competitive, expand their enterprise, and/or to offer their customers superior service. However, some business professionals will decide to take a different route, and will opt to rent out a trailer, chain of trailers, or other such vehicles instead; leasing them for a predetermined period of time,…

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22
Feb

Buying VS Leasing: Which Is More Cost Effective?

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There are many factors that determine whether or not a business should lease or buy its equipment. One of the most important factors business owners should keep in mind is taxes. The tax consequences of buying a truck are different from that of leasing. When it comes to leasing, there are generally two types: operating lease and capital lease. The type of leasing the business chooses to go with will determine how it will show in their balance sheets, and therefore, show in their tax implications. Operating Lease When a business owner uses an asset on an operating lease, the business assumes no risk or benefit beyond use of the asset under the agreed terms and conditions. At the end of the lease, the business owner must return the asset to the original owner. On the balance sheet, the owner’s lease is deducted as an expense. Capital Lease A capital…

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