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Farm Equipment Leasing
Farmers favor farm equipment leasing as a way of assistance in paying
for their tractors, bailers, plows, and other machinery. The sad fact is
numerous farming businesses just do not have the available capital to
purchase farm equipment; leaving leasing as their only option. There are
several types of leases to available, depending on the farmer's goals.
Tax leases, or true leases are the best choice for farmers don't know
whether they will purchase the equipment or not at the end of the lease.
This form of lease offers the most flexibility for those uncertain about
their future equipment needs.
Many farmers do intend on purchasing the equipment. For them, a capital
lease is ideal. This lease provides a provision to purchase for a
prearranged price at the end agreement.
The different leases have different tax implications therefore it is
important to have a tax attorney or accountant review your alternatives.
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