Vonna Laue is an expert on church finances. She served 20 years with a CPA firm focused on churches and ministries and is a senior editorial advisor for Church Law & Tax. Here, she offers advice on navigating the complex world of copier leases and purchases.
What advice would you give to a church that needs a copier?
Plan ahead before there’s a crisis. That way, you’re not trying to act on something so that you can get the bulletins printed by Sunday. Decide what’s going to be your best course of action. Should you, for instance, lease or buy? If you decide to purchase, budgeting cash reserves for a future copier purchase is a good idea.
What if a church thinks leasing is the way to go?
If you’re considering a lease, walk through the calculations and understand what you’re paying for. Be sure to ask: If we just bought this outright, what is the cost? And then ...