When you are setting up your office for the first time, taking a decision about buying or leasing furniture can be a hard one because of the advantages and disadvantages of both choices. It’s always an evenly poised battle, so before you take the final call, you need to weigh the pros and cons of each option so that you get the maximum return on your furniture investment or visit http://abfmyrtlebeach.com/for competitive prices.
Making a Choice Between Leasing and Buying
Leasing allows you the liberty of enjoying some very good quality furniture without having to make a heavy initial investment that buying outright entails. You can also change your furniture from time to time to give your office a new look every year if you want to. Moreover, you are also spared the hassle of selling off old furniture that you don’t want or need anymore. Leasing, however, entails heavy spending every month without allowing you the ownership of the furniture and turns out to be more costly in the long run. Moreover, should your business run into financial difficulties, you can’t escape from the leasing agreement and penalties will have to be paid for violations.
Buying on the other hand, will allow you to classify your furniture as a movable when calculating the net worth of your company and will allow depreciation to be charged every year for tax relief. The furniture can also be sold later to raise funds for buying new stuff. Moreover, you are spared the worries of having to make monthly payments to the lessor. On the flip side, the heavy investment made in furniture will prevent investment in other core areas of the business and over the years, they will tend to wear out. They will also have to be maintained constantly and would imply recurrent expenditure as well. This makes deciding between leasing and buying all the more difficult. check out myrtle beach furniture stores for great deals on office furniture