Why Buy When You Can Lease?
You’ve made the initial steps to launch your business and found the office space. It’s small, but it fits your budget, and it’s in a prime location. Your market research shows promise and you can expect expansion in the future if you invest your money right. Furthermore, you know the larger office space next door will be available for lease in the near future, so you accept the smaller space temporarily. You’re ready to buy office furniture, but you have a decision to make. Do you buy new or used office furniture for the small space and replace it when you get the larger space, or do you attempt to predict your future office furniture needs and pay to store what doesn’t fit in your current space? Why not consider leasing it. Leasing office furniture provides an excellent alternative to buying. Take a look at how Systems Office Furniture, Inc’s. lease program could benefit your business.
Cost: While leasing office furniture can ultimately cost more than buying used office furniture, circumstances exist where it can save you money and hassle in the long run. One of those circumstances includes the necessity for a temporary solution to your office furniture needs. By leasing your used office furniture you will make lower monthly payments for a short term rather than one large payment to purchase new furniture. Then, when the time comes to replace that office furniture, you will save on the expense of finding a buyer or unlimitedly the disposing of it.
Taxes: The IRS considers owning your office furniture a company asset and that has its tax write-off benefits, but those write-off’s are for a fraction of the purchase price of the furniture. According to the U.S. Small Business Administration, if you purchase new office furniture, Section 179 of the IRS Code allows you to choose to take either 100% of the deduction in the year you purchase it or a sliding deduction that accounts for the depreciation of the furniture over a period of seven years. However, since the IRS considers leased office furniture a business expense, you can deduct the full amount of the monthly cost of the lease.
Conserve working capital: Leasing office furniture provides a lower initial expense and frees up your existing line of credit, allowing you to invest in other areas of your business so that it can grow faster.
Installation and maintenance: Furniture leased from Systems Office Furniture, Inc. is delivered and installed in your office space and maintained for the duration of the lease; this includes repairing or replacing if necessary.
Disposal: When you need to trade-up, for example because your business requires additional office furniture, there are no worries about how to dispose of the leased furniture. If leasing furniture from Systems Office Furniture, Inc., we will remove it from your office and, should you desire, deliver and install your replacement furniture in your new office.
Your business needs may vary, and you may find that buying new or used office furniture is the better option for you. However, the many benefits of leasing office furniture may sway you in that direction. Regardless of your needs, Systems Office Furniture, Inc. can provide a solution for you. For more information, give us a call so we can make your business vision a reality.
