title>Tax Guru-Ker$tetter Letter Wizard Animation

                 

Tax Guru-Ker$tetter Letter
Saturday, June 23, 2007
 
Section 179 and Leasing


Q:



Subject: Section 179 relative to equipment leasing

Can the taxpayer benefit from the section 179 deductions if the equipment is financed?


Thanks,


Just reviewed your comments about equipment leases relative to operating leases


 


A:



If equipment is actually purchased, how it is paid for (cash or loan) is irrelevant. 

With leases, it's a little trickier.  Capital leases (aka disguised purchases) can often qualify for Sec. 179, while operating leases don't.

I've covered this issue rather extensively on my Section 179 page.

Kerry Kerstetter


Follow-Up:



Thanks Kerry,

I did review your comments on operating leases.

Very informative and useful to our customers!

Thanks again,

 


 

Banner HPage_468x60

 

Labels:


- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 6/23/2007 09:03:00 PM Send this post:

Powered by Blogger