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Old 03-13-2013, 11:05 AM
jason72g jason72g is offline
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Join Date: Jul 2010
Location: Sweetwater, TX
Posts: 88
For those of you who finance equipment

Are you personally financing the equipment or is your business financing the equipment and you're guaranteeing it?

Just wondering what the best way to go about it is. It would seem to me that if you are personally financing it, then your business (LLC) wouldn't be able to depreciate or deduct it.
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Old 03-13-2013, 01:47 PM
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grandview (2006) grandview (2006) is online now
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Join Date: Jan 2006
Location: Lancaster N.Y.
Posts: 3,481
You can do it and take the deduction. It maybe in your name but the company pays for it. Once you become established you will be able to buy it in the company with a personal guarantee.
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Old 03-15-2013, 03:37 PM
rockymtnnut rockymtnnut is offline
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Join Date: Mar 2013
Location: cincinnati ohio
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You have to be huge and very reputable for a business to secure a loan without a individual guaranteeing the loan.
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Old 03-17-2013, 02:34 PM
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Green Grass Green Grass is offline
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Join Date: Sep 2004
Location: MN
Posts: 163
business takes the loan and I either personally guarantee it or they use other equipment as collateral also.
Super Duty's
Enclosed trailers
Stihl Products
Exmark Mowers
Wright Mowers
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