Is your company taking advantage of valuable tax deductions for used equipment purchases? While there are several benefits to purchasing used forklifts, there’s one called the Section 179 deduction, and it can mean big savings for your business.
About Section 179 Deductions
If you haven’t heard of the Section 179 deduction yet, The Forklift Pro has some great news for you. Companies can write off used equipment purchases with an immediate 100 percent deduction – plus bonus depreciation! Previously, companies could not write off capital spending costs at the time of purchase, and deductions could not be made for used forklifts.
This deduction is not always guaranteed from year to year so it behooves anyone considering a used equipment purchase to complete their purchase before the year is over. This will ensure immediate savings come tax time.
Savings from the Start
It’s no secret that used material handling equipment costs less than new equipment – but did you know how much less? Businesses can save up to 50 percent by purchasing a used forklift. These savings lead to increased buying power. Instead of allocating your budget for one new forklift, you could use these funds to purchase two used forklifts. Purchasing used forklift attachments and accessories can help you save, too.
Less Money for Maintenance
Businesses also find savings in maintenance and part replacements for used forklifts. Parts for new forklifts are more expensive than used forklifts, making repairs more cost effective if needed.
Used forklifts make employees feel more comfortable operating equipment that they are familiar with. Traditional forklift models that can be purchased pre-owned are likely to put employees at ease.
At The Forklift Pro, we know the ins and outs of all the equipment we sell – including the used forklift models. All used forklifts in our inventory are inspected and serviced thoroughly by our equipment technicians.
Write Off Used Forklifts and Save Money
If your company is in need of material handling equipment, consider purchasing used forklifts before the end of the year to take advantage of the Section 179 deductions. Talk to the experts at The Forklift Pro to help find the right used forklift for your small business.