If you are opening a new office, you are probably on the look out for furniture. While you have the option of purchasing it all new or used, you may want to lease it instead. This provides you many benefits, from getting the furniture right away to not having a major commitment in the beginning. Here are some of the benefits of leasing your office furniture.
Financing a Lease is a Simple Process
When you have a new business, it can be difficult getting the financing you need to buy all new furniture. You may find that financing companies don't want to take a risk on you because you don't yet have a regular cash flow from your business. However, leasing companies are usually more lenient with new businesses. You may find that it is much easier to get approved for financing for leasing your office furniture than if you tried to buy it.
There is Little Expense Upfront
Another great benefit to leasing furniture is that aside from a small deposit, you won't have much expense upfront. This means you can get your office furniture in only a few days without trying to figure out where the money will come from. Some leasing companies require the first month's payment upfront, but that's about it. You can pay smaller monthly payments over the lease period and not struggle too much making these reasonable payments.
Leasing is Tax Deductible
If you are concerned that not buying the furniture outright will affect your business taxes, you don't have to worry. The money you spend on the deposit and monthly payments of the lease still qualify as business expenses. While you might not have quite as much of a deductible as if you bought the furniture new and at a higher price, these expenses are still tax deductible.
You Can Upgrade
You may be someone that changes your mind often and that makes it difficult to make a decision on your office furniture. This is a great reason to choose leasing. Not only can you get new furniture at the end of the lease, but many leasing companies let you trade your furniture while you are currently within the leasing terms. This means you can furnish an additional office or trade in your current office furniture for a newer model.
If you are leaning more toward leasing office furniture, make sure you read the terms and conditions very carefully. There may be some restrictions, and it is best to know about them beforehand. Contact a local company, like Office Furniture Barn, to find out about the options in your area.Share
25 May 2015