The first payment will be due 90 days from the date of funding. For example, if a deal funds on December 15, the first payment will be due March 15th.
Certain restrictions apply, including, but not limited to: Startup restaurants, startup salons, ATM equipment, security monitoring agreements are not eligible.
Commercial customers only. Qualified businesses must have at least 2 years time in business to qualify.
The benefits for your customers are obvious. They can get the equipment they want now and use that equipment to earn money for 90 days before the first monthly payment is due. Tell your customers to keep their hard earned cash and let the new equipment earn they money to pay for itself!
This program is also very popular with equipment suppliers who can leverage this limited-time offer to help earn more business. Tell any customer that shows interest in the option that there is no cost or obligation to get approved.
How can I get my clients Approved for No Payments for 90 Days?
You and your customers can apply like normal. We simply need to know that your customer is interested in this option. If there is mention of No Payments for 90 Days on an application we will immediately begin qualifying for this program.
Don’t wait until it’s too late – Tell all your customers about this option and share our secure application to find out if they qualify. It’s that simple!
Section 179 of the IRS tax code allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves. Section 179 is one of the few incentives included in any of the recent Stimulus Bills that actually helps small businesses. Although large businesses benefit from Section 179, the original target of this legislation was much needed tax relief for small businesses – and millions of small businesses are actually taking action and getting real benefits.
How Does Section 179 Work?
When your business buys certain items of equipment, it typically gets to write them off a little at a time through depreciation. In other words, if your company spends $50,000 on a machine, it gets to write off (say) $10,000 a year for five years (these numbers are only meant to give you an example). Now, while it’s true that this is better than no write off at all, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it. In fact, if a business could write off the entire amount, they might add more equipment this year instead of waiting over the next few years. That’s the whole purpose behind Section 179 – to motivate the American economy (and your business) to move in a positive direction. For most small businesses the entire cost can be written-off on that year’s tax return.
Limits of Section 179
Section 179 does come with limits – there are caps to the total amount written off, and limits to the total amount of the equipment purchased. See our “IMPORTANT NOTICE: Section 179 Expanded” post for details on limits for a given tax year.
How Can I See How Much Money I Can Save?
Included on our Finance Calculators is a “Section 179 Tax Savings” feature to show you an estimate of how much you can save with this benefit. Simply put an amount in the calculator, and hit the calculate button to see Potential Tax Savings. By default, a 21% tax bracket is assumed for calculation purposes.
Business Is All About The Bottom Line!
When considering equipment for your business the decision almost always depends upon the bottom line. For your convenience, our finance calculators automatically print the total Bottom Line Equipment Cost After Tax Savings along with every quote. If you have any questions about our Finance Calculator, the Tax Savings estimator, or IRS Section 179, please do not hesitate to contact us.
A lot of salespeople work out in the field or away from a desk. Being able to talk to a customer about finance options while they are considering your product offering is the best way to capture every potential sale. That is why our finance tools are easily accessible by any device that can connect to the internet. This includes Android and Apple smartphones.
Calculations Help Salespeople Convert More Sales
Quick and easy access to our finance calculator is the first thing a salesperson will want to secure. Our Kingswood Calculator enables any salesperson to quote finance options to their customers within seconds. Access to our Kingswood Calculator (or private calculators customized for your company) is easy when you download them to your smartphone by using the Add to Home Screen feature:
Both Apple and Android devices have this feature. Once added to your home screen, the calculator opens just like an app.
Converting Calculations into Applications
When a customer shows interest in the finance option as opposed to a cash purchase, the only other thing you will want to do to capture the sale is fill out an application for the sale. You can direct the customer to our Kingswood Application (or your private application customized for your company), or better yet, you can fill out the application for the client. Going over the simple, one page application with the client provides a superior experience and also ensures that the client takes mental ownership of the purchase they are about to execute with you. Downloading our application to your smartphone enables you to offer this experience to your clients whenever you have the opportunity. Use the same process shown above to download the finance application to your smartphone for quick and easy access.