It’s not an impossible dream.
One-way small businesses are saving money is by looking at their capital and operational expenses and considering whether it’s better to buy or rent what their firm needs.
An expenditure that can live in either the Capex or Opex column is software.
If you buy a software license, it’s considered a capital expense—one that won’t be fully tax-deductible the year it was purchased. Or you can opt to rent your software on a monthly basis. That means it’s an operating expense and can be fully deducted.
Adobe, Microsoft, are examples of companies offering rental licenses for their software. And tax savings are not the only benefit. You’ll incur lower upfront costs by accessing software via a rental license. Renting also gives you the flexibility and savings, you can potentially pass along costs to clients.
What your small business can gain from renting software. Were you worried that forgoing “ownership” of your software would mean relinquishing control? Far from it. Renting software also means that upgrades are included, and often times, you’ll get better tech support.
The bottom line: Save money to use elsewhere in your small business, or pay yourself that deferred salary you deserve.
Detox consulting offers you the possibility to buy its software for a very affordable cost.
Stop paying each month to use your software!