Depreciation: Now’s the Time to Buy Equipment!

Tax time, already? As a smart business owner, you know all too well that you always have to keep taxes in mind. And right now’s the time to consider depreciation.

Due to normal wear and tear, the equipment you purchase and own goes down in value over time, and that depreciated value is a tax write off that reduces your amount of taxable income––and ultimately, that means you get to keep more of your money.

Depreciation can be taken all in one year (called “accelerated depreciation”), or it can be spread out over a number of years. Your tax advisor can guide you as to which is better for your particular circumstances.

The important point to keep in mind for end of year is that you still have time to purchase equipment now in order to have a depreciation write off for the 2019 tax year.

If you need a loan to purchase your equipment, contact one of our Bank’s loan officers. We can help you finance equipment large and small. We’re always here to help you make smart financial decisions for your business.

Real Estate Loans for Rental Properties––Invest for the Long Term.

Owning commercial property––whether it’s an apartment building, office space or farmland––is a wise, long-term investment, especially if you have a smart loan.
 
From the get-go, when you acquire property, you always seek out the most favorable interest rate and terms, but the market can change over time. Sometimes, refinancing can help increase your cash flow and help you build equity in your property sooner. It can also make money available for building improvements, if need be.
 
This year, rates are lower than they’ve been in a while, so this may be the perfect time to buy property or refinance your loan.

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