Calculate Your Tax Savings
Your Equipment Lease Is A Tax Write-Off!
Old equipment might cost you more than new business - it WILL detract from a potential tax benefit. Don’t lose your liquid assists to taxes; reinvest in your business! Let Select Business Credit simplify your budget and broaden your operational flexibility by securing a tax deductible equipment lease. Use the calculator below to get a better idea of the tax savings you can expect this year!
If your equipment is installed in 2008, you can benefit from a Non-Tax/Capital Lease and expense up to $250,000. You may depreciate any excess as determined by the depreciation schedule for that asset. The Economic Stimulus Act of 2008 also created a bonus depreciation of 50%. This bonus is in addition to the customary first-year depreciation. To find out your tax savings, and the true cost of your equipment acquisition, use our Tax Savings Calculator.
| Section 179 Deduction: | |
| 100% Bonus Depreciation (on remaining amount exceeding $500,000): | |
| Regular First Year Depreciation Deduction: | |
| Total First Year Deduction: | |
| Cash Savings on your Equipment Purchase (assuming a 40% tax bracket): | |
| Lowered Cost of Equipment after Tax Savings: | |