[huey642]

hello,
i'm ready to sing papers to purchase a tajima 2 head. i it's been many years since i've purchase a machine.
1. i was quoted 30,000 for machine
2. beacon funding has been the only leasing co i've spoken to
3. i've been approved but will be talking to them today about terms.

question:
a) is beacon a good company still or are there smarter business moves for me to check out

b) what would fair terms be so i know

thanks for any help.

 

[Liberty]

I've dealt with Beacon many times over the last 20 years and have a lease with them right now. You will be treated fairly and professionally.

Terms will depend on your credit. And there are different types of leases, $1 buyout, Fair Market Value buyout etc. Make sure you go for the one that gives you the best tax implications.

The Section 179 writeoff amount has been reduced this year, unless congress decides to actually do something about it. You should probably work this out with your tax professional before signing a lease...

 

[huey642]

hmmmmm good tax note! i can't talk to my accountant for a few weeks....if it were you what would you do?
i know every business is set up differently.

 

[Liberty]

If you need the tax write off this year, I'd go for a fair market value buyout and take the Section 179. The section 179 limits are back down to $25,000 this year, if congress doesn't change that.

Run the numbers both ways. But it really should be a professional that knows your particular situation that gives you that kind of advice.

 

[binki]

Check out usbank for a loan. They gave us better terms than a lease