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Record Breaking Month in May, Thank You!

6/10/2014

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On behalf of the team at Creative Business Finance, we are excited to announce that May 2014 was a record-breaking month in the number of business loans we provided to hard-working entrepreneurs! 

During the month, we issued 21 business loans and leases totaling $2.6 Million to entrepreneurs who are energizing local economies in Colorado and 39 other states!  

We are grateful to YOU, our supporters, for making this record-breaking month possible. Thank you for helping small business owners achieve their dreams and strengthen our communities. 

Serving Colorado, and 39 other states, Creative Business Finance has financed the growth of 115 businesses through 258  loans totaling more than $53 million. Creative Business Finance, assisting small businesses since 2007.

Please visit us at www.CreativeBusinessFinance.com  or call 720-446-LOAN.

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Time is Running Out to Create Your Own Tax Break in 2013

11/14/2013

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Tax Code Section 179 allows small and medium-sized businesses to deduct the full purchase of qualifying equipment and/or software financed from their gross income during the tax year. It is an incentive created to encourage businesses to buy equipment and invest in themselves. Today, millions of small and medium-sized businesses are taking action and getting real benefits from Section 179.

This incentive applies to the purchase of essential use equipment including machinery, computers, and other tangible goods, placed in service by December 31, 2013. The Section 179 limits for the year 2013 were increased by the American Taxpayer Relief Act of 2012 which allows businesses to write-off up to $500,000 of qualified equipment. Bonus Depreciation was reinstated at 50% allowing larger businesses that exceed the $2,000,000 limit on capital purchases to write-off 50% of qualified equipment.




Example 1:
When the total yearly equipment acquisition for the company does not exceed the 2013 Section 179 limit of $500,000 the Example 1 (Below) shows how the accelerated depreciation affects the equipment cost after tax savings. The equipment cost residing below the Section 179 threshold allows 100% of the equipment cost to be deducted this year.

Example 2:
When the total yearly equipment acquisition exceeds the standard Section 179 limit of $500,000, but does not exceed the ceiling of $2,000,000, Example 2 (Below) shows how the bonus depreciation affects the equipment cost after tax savings. The equipment cost in excess of the $500,000 is allowed by law for qualifying equipment to be depreciated by 50% coupled with normal deprecation rules according to MACRS.

Example 3:
When the yearly equipment acquisition for the company exceeds the full benefit ceiling of $2,000,000, the Section 179 tax deduction reduces dollar for dollar thereafter. (Below) Section 179 deduction is reduced by $100,000 as the total equipment acquisition exceeds the $2,000,000 ceiling by the same amount.

Act Now!
To to take advantage of the incentives and the substantial tax savings, your business equipment must be put to use by year-end. Interested in learning more? We’ll provide you with a free consultation and extend financing solutions so you can acquire the business equipment you need.

Tax Code Section 179 & Election to Expense Detail 
The election, which is made on Part 1 of IRS form 4562, is for the tax year the property was placed in service or an amended return filed within the time prescribed by law. The total cost of property that may be expensed for any tax year cannot exceed the total amount of taxable income during the tax year. Section 179 property is property that you acquire by purchase for use in the active conduct of your business. To ensure property qualifies, reference Publication 946. Contact your tax advisor for further detail or visit www.irs.gov for specific detail.


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Contact a Loan Officer at CBF for more information, (720) 446-5626 

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Commercial Truck Leasing: A Profitable Way of Running Your Business on Wheels

10/4/2013

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Commercial truck leasing is a profitable way of running your business on wheels. Transportation businesses must juggle many financial responsibilities. Some businesses have more expenses than others. Leasing vehicles or trailers, in many cases, may be the best solution to meeting your company’s equipment needs.

Freight carrier companies often need to take advantage of used trailer financing. The cost of used trailers varies, but most companies find it advantageous to finance the cost of the trailer as opposed to paying out of pocket. In many cases, no huge down payment is required. This is beneficial to your company’s cash flow because it preserves working capital and credit lines. In addition to not putting out a large sum of money, by leasing a piece of equipment, your company can take advantage of more tax write offs.

Many commercial truck leasing companies finance a large variety of equipment. This can range from used trailer financing to box truck financing. Business owners find that they can take advantage of the benefits of leasing nearly any type of truck or trailer. Fleet owners enjoy the benefits of leasing because it allows for them to keep their fleet of trucks and trailers current, with the latest models and resulting in fewer repair bills. Also, the newer commercial trucks have technological advancements that enhance fuel efficiency, which is a big point of interest to fleet owners.



Want to learn more about leasing your next commercial truck? Contact us at (720) 432-9118 or email steve@creativebusinessfinance.com 

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    Creative Commons License
    This Blog by Stephen Felt is licensed under a Creative Commons Attribution-NoDerivs 3.0 Unported License.

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    Stephen Felt is the Managing Director of Creative Business Finance, LLC and writes or reposts information from other sources for this blog. 

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*Disclaimer: CBF is a private capital intermediary, we use our resources to connect our clients with the best private lender or specialty finance company for their specific situation. CBF is not a law firm or accounting firm and doesn't provide tax and/or legal advice. Our address is 7830 W. Alameda Ave, Suite 103 #252 Lakewood, CO 80226. 
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