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18
May

Equipment Financing vs. Leasing: What’s the Difference?

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Difference between financing and leasing

If you are thinking of taking out a truck loan, then you probably have some questions concerning the differences between equipment financing and leasing. The biggest difference between leasing and equipment financing is in the ownership. That is, when you lease a piece of equipment, then a vendor will allow you to rent it in exchange for monthly payments. This means you will not own the asset during the duration of your lease. Conversely, equipment financing serves as a collateralized loan that will provide you with the option to purchase the piece of equipment outright. In other words, once the…

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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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