155 \\ Lease or Buy Equipment? Section 179 Tax Strategies for 2024
- Author
- Tiffany Phillips - CPA, Small Business Money Mentor, Financial Expert
- Published
- Mon 11 Nov 2024
- Episode Link
- https://smallbusinessfinance.podbean.com/e/155-coaching-vision-and-scaling-the-secrets-to-growing-your-business-faster/
As year-end approaches, many business owners scramble to reduce taxes by buying equipment—but is that really the smartest move? In this episode, we unpack the key questions you need to answer before leasing or buying equipment. Learn how to decide if a purchase makes sense based on ROI, cash flow, and your projected 2024 vs. 2025 tax liability. We explain the difference between a capital lease and an operating lease, why only capital leases allow Section 179 depreciation, and how to compare the total costs of leasing versus buying so you can make the right financial choice. This episode will help you think strategically about big equipment decisions instead of rushing into purchases just for a tax deduction.
Next Steps:
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