When you need new equipment, facilities or vehicles to make your business operate better, sometimes buying isn’t the best option. There are many benefits to leasing through State Bank of Cross Plains:
Equipment Leasing Today
Businesses today can get all their equipment leasing needs met at their local bank. Our leases are relationship-based, not transaction-based. No longer are there large fees and penalties around each corner. Businesses are treated fairly.
Leasing through your local bank makes sense. Local banks are at the forefront of providing businesses with capital to grow and expand. Leasing builds on our commitment to provide you with the financial tools you need to succeed.
80% of all businesses use equipment leasing today to acquire equipment, and almost any type of equipment qualifies for a lease. If your business is considering a lease for equipment, talk to a commercial lender about the common sense options available.
Tax Lease vs. Capital Lease
A tax lease is structured to provide the leasing company with equipment ownership, and along with it all depreciation benefits. In return, your lease payments may be fully deductible. The documentation for a tax lease is designed to conform to all related guidelines.
A capital lease, also known as a finance lease, is structured to pass all ownership benefits to you including depreciation. Only the interest portion of your lease payment is deductible, along with your depreciation expense. Such leases commonly have a $1.00 purchase option at expiration.
For counsel and guidance, we recommend you discuss your specific situation with your tax advisor to assess which lease best fits your needs.