These days, almost every business utilizes some type of software database to assist with day-to-day operations. Over 90% of business owners employ some type of software program ranging from tracking sales, payroll, bookkeeping, inventory control, customer resource management, etc. to operate smoothly while at the same time being efficient.
These systems have become so popular, many companies cannot operate without them. With the costs ranging anywhere from $20K to over $100K, it is a large outlay of cash. Why not have the ability to also write off this type of equipment and benefit from the tax advantages. Even upgrading existing software can be a large outlay of money.
In many businesses, specialty software programs are a necessity. For example, BuilderTrend is one of the most popular CRMs for the construction industry. This program makes it easy to communicate with customers. They can track the progress of their project with their own login, even having the ability to see photos. Using a program like this can be a great way to court business. However, it costs hundreds of dollars per month, per feature to use BuilderTrend. It can easily cost a business over $15,000 per year.
AutoCAD is another famously useful and expensive software. This program is used to create blueprints. Construction companies, interior designers, and other professionals rely on AutoCAD. A single license is only good for one user and costs over $1700 per year. It’s possible to buy licenses for multiple years, but those cost more upfront. For a busy firm with several designers on staff, these costs add up quickly.
Designing something abstract can be even more expensive. Game designers often use Unreal Engine. The price tag for this product can run to over $100,000. Even graphic designers who work in two dimensions usually need to buy thousands of dollars worth of Adobe software. They’re considered the industry standard for fonts, image editing, and page layout.
Using these programs is a must for any business that wants to compete. But given the expense, many entrepreneurs don’t want to dip into their working capital. Let Alliance finance these costs as well as the ability to include training, freight, and installation.
At Alliance Leasing, we offer 100% financing for business goods, including software. We have a simple application that can be found on our website https://www.allianceleasing.net/. Best of all, with equipment financing, you can take advantage of Section 179 of the IRS tax code. This allows people to expense, rather than depreciate, capital goods. In practice, this means that companies can deduct 100% of their software purchase, up to $1,000,000. The only requirement is that it be placed into service the same year it was purchased.
At Alliance Leasing, we’ve been helping businesses get the equipment they need to succeed for over 30 years. If you are considering new software for your business, contact us today. Tell us what your goals are, and what you need to achieve them. We can help you get there.