Leasing

Truth in Leasing – by: Great American Leasing

ga-logoAccording to the U.S. Department of Commerce, equipment leasing is used by more than 80% of all businesses in the United States.the equipment leasing industry is largely unregulated. This limited government involvement in the industry encourages a free flow of entrepreneurial energy, making equipment leasing an attractive fin

To protect you in this unregulated environment, your vendor has chosen a finance company that not only has a track record of integrity and excellence, but also is willing to put its promises to you in writing. We recommend you always request this same protection, in writing, from others when you lease.

When you enter into a standard GreatAmerica lease agreement with us, you can expect the following:

  • You will have an opportunity to benefit from insurance we maintain on your leased equipment by paying a monthly charge or you may provide your own insurance.
  • Your monthly invoice will be processed at least 25 days in advance of the due date.
  • You will be charged a one-time documentation fee.
  • You will not be charged interim rent.
  • You will not be charged a fee for processing property taxes.
  • At the end of the lease term, our Customers For Life® program ensures you will never pay more than 15% of our initial cost of the leased equipment to exercise a Fair Market Value purchase option (except with respect to some short term healthcare equipment leases).
  • You will not be billed for renewal payments if your lease contains a $1.00 purchase option.
  • You will be notified that your lease is coming to an end on the last invoice of the initial term.
  • If you use the equipment following the end of the initial lease term without exercising your purchase option (if applicable), you will not be automatically committed to a 12-month contract renewal. Instead, your contract will renew month-to-month.

Lastly, you will always receive prompt, courteous, professional and fair treatment from us. This is the GreatAmerica way of doing business–you have my word on this.

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Important Section 179 Information

Section 179 can help offset your tax bill and give you an increase in business and profitability. Did you know with Section 179 you can write off your entire equipment purchase?

Section 179 has been enhanced for *both* 2012 and 2013 tax years (2012 is retroactive, obviously). This is due to the passage of H.R.8: American Taxpayer Relief Act of 2012 (The “fiscal cliff / fiscal crisis” bill).

2013 Deduction Limit = $500,000
2013 Limit on Capital Purchases = $2,000,000
2013 Bonus Depreciation = 50%

Please note the above limits are as of 1/1/2013, and are for tax year 2013. In addition, 2012’s old limit ($125,000 deduction) has now been raised to $500,000 as well. This means qualifying purchases you made in 2012 can now take advantage of the new, higher deduction limits.

Learn more at http://www.section179.org

Contact your tax advisor to confirm how you may benefit from this tax break.

Sample IRS Section 179
Financed Tax Deduction Tax Saving at 35% Tax Bracket
$25000.00 $25000.00 $8750.00
$55000.00 $55000.00 $19250.00

Section 179 Summer 2013