There is a simple rule to follow:
Rent Or Lease If:
- You need office furniture short-term, buying is never recommended.
- You expect your rate of employee attrition to fluctuate and your furniture needs to change.
- You’re business is expanding quickly and you’re unsure of your future space plans.
- Your financial plans require limited capital outlay.
Purchase if:
- It makes smart financial sense.
Deductible expense – Section 179 in the current (2018) tax code, allows for deductions on equipment up to $500,000 the first year.
- Depreciation – Your furniture may be depreciated over time.
- Costs less than renting or leasing.