A Rental and Operating Lease can offer better flexibility than outright purchase, allowing you to upgrade, purchase or return the equipment at any time. They are a great option for businesses that may need to frequently upgrade their equipment.
A Rental and Operating Lease permits your business to use the equipment being leased, but doesn’t provide ownership. This provides balance sheet relief for businesses as the lease is considered an operating expense, and is not recorded as an asset. This can provide some tax benefits if the equipment is a vehicle used to earn income and can be handed back at the end of the lease with no resale value risks.
*The above should be used as a guide, please contact your Accountant or Financial adviser to see what is applicable to your business.
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