I own a UX consulting business, which is a single-member LLC, and work for clients remotely. When I first bought my work computer several years ago, I bought it from its manufacturer's site and deducted the whole cost of buying it in my taxes. My work computer is my business's most expensive piece of personal property by far.
Fast forwarding to now, it's past time to replace this machine. My business is now much more successful, and I make much more significant estimated tax payments for it every quarter. So I am looking to even out my expenses. At the same time, another attractive aspect of leasing is that some types of leases will force me to upgrade to a new computer at the end of the 2-year lease. That helps me run better software more easily and serve my clients better.
I am wondering whether leasing or buying makes more sense from a tax standpoint both federally (in the US) and hopefully also in my state (Maryland). Maryland requires LLCs and corporations to file a personal property tax return every year (which I described in this question), and both purchased and leased property is subject to those taxes.