Did you know your company could be saving big on taxes by purchasing used equipment? While buying used forklifts comes with a range of benefits, the Section 179 deduction stands out as a significant financial advantage. By taking advantage of this deduction, businesses can immediately reduce taxable income, leading to considerable savings.
About Section 179 Deductions
If the Section 179 deduction is new to you, The Forklift Pro is here with some great news. This deduction allows companies to write off the entire purchase cost of qualifying used equipment—like forklifts—in the tax year the equipment is purchased. It also includes the benefit of bonus depreciation, further maximizing savings.
Historically, companies couldn’t deduct the full cost of capital spending at the time of purchase, and the deduction was limited to new equipment only. However, under the updated tax code, businesses can apply the Section 179 deduction to used equipment, making it an even more appealing option. Keep in mind that Section 179 is not always guaranteed to be available every year, so if you’re planning a used equipment purchase, it’s best to finalize it before year-end to ensure you qualify for these immediate savings.
Savings from the Start
It’s well-known that used material handling equipment is more cost-effective than buying new, with savings of up to 50%. By purchasing used forklifts, companies can maximize their budget, often acquiring two used units for the price of one new forklift. These savings allow businesses to enhance their operational capacity without overextending their finances. Additionally, opting for used attachments and accessories further stretches your budget and supports long-term savings.
Reduced Maintenance Costs
One of the hidden benefits of used forklifts is the potential for lower maintenance expenses. New forklift parts are typically more expensive, which can drive up the cost of repairs. Used forklifts, however, tend to have more affordable replacement parts, making maintenance more economical over the equipment’s lifespan.
Enhanced Employee Experience
Operating familiar equipment can help employees feel more comfortable and confident. Many traditional forklift models available on the pre-owned market are ones that employees have likely used before, reducing the learning curve and increasing productivity. Familiarity can also lead to safer operations, as employees are less likely to make errors with equipment they know well.
Reliable Equipment from The Forklift Pro
At The Forklift Pro, we’re experts in evaluating, inspecting, and servicing the used forklifts we sell. Our team ensures that every piece of equipment in our inventory meets high standards of quality and reliability. With each purchase, you can be assured of dependable performance and a smooth transition into your operations.
Take Advantage of Section 179: Write Off Used Forklifts and Save
If your business is in the market for material handling equipment, consider purchasing used forklifts before the year’s end to capitalize on Section 179 deductions. Talk to the experts at The Forklift Pro to help find the right used forklift for your small business. Our team is here to help you find cost-effective solutions that maximize your tax savings and operational efficiency.