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Leasing can actually save you money when accounting for your tax liability. That’s because your lease payments are made with pre-tax dollars and cash purchases are made with taxed income. In the long run, paying cash ends up costing more than if the equipment is leased. Here’s an example to explain:
Equipment Cost = $15,000
Divide .70 (30% tax bracket) into the cost of the equipment
Total paid for equipment after tax = $21,429
Paying cash vs. leasing ends up costing you $6,429 more