Understanding Recharacterization When Leasing Heavy Equipment

25 June 2015
 Categories: , Articles

When it comes to heavy equipment, there is often a fine line between the cost of heavy equipment leasing and a purchase agreement. Although you may be tempted to simply purchase your equipment outright, this is not always the best choice. There are many advantages to leasing, and one of the main advantages is the tax deductions you can claim for the cost of your lease payments. Unfortunately, if your lease contract is not written correctly, the IRS may recharacterize your deductions, which in turn may cause the IRS to deny them. Read More