Plan Now For Your 2023 Baler & Compactor Purchases
With the end of the year quickly approaching, many business owners are scrambling to take advantage of the 2022 Section 179 tax incentives offered through the Internal Revenue Service. While there are many advantages to the code, it is important to note that the deductions are only valid for equipment purchased or leased AND put into service at the business in 2022. If you have yet to order your baler or compactor, or have it delivered, installed, and put into use, time is definitely running out.
Don’t be discouraged. There is always next year. And, next year is just about here! If you are considering purchasing or leasing a recycling baler or trash compactor, here are a few reasons why you should plan now for your 2023 baler & compactor purchases.
Section 179 Tax Incentives Offset Depreciation Values
Section 179 of the Internal Revenue Code allows a taxpayer to immediately expense the cost of qualifying property—rather than recovering such costs through depreciation deductions.
With bonus depreciation tax reform changes taking effect in 2023, these Section 179 incentives are even more appealing than ever! In 2023, the deduction limitation on bonus depreciation changes from 100% (2022) to 80% (2023). But, to help offset inflation, the maximum amount of the Section 179 deduction has been increased to $1,160,000 and the phase-out threshold also increased to a maximum of $2,890,000.
Almost all legitimate business equipment qualifies, including balers and compactors for inside and outside of your business. That means that when you plan now for your 2023 baler & compactor purchase, you will be able to permit the immediate expense of 100% of each asset cost, on new or used equipment, whether it is purchased or leased, as long as it is put into use during the 2023 tax year. Purchasing or leasing your baler or compactors in 2023 allows you to deduct even more credit from your taxes!
Time To Plan For Site Reviews/Proven Process
When investing in quality waste and recycling equipment, it is important that you work closely with professional, educated sales associates with decades of experience in the industry.
When you partner with Harmony Enterprises, our friendly, knowledgeable, and experienced sales team uses our Proven Process to ensure that you are proposed exactly the right equipment from our wide range of waste and recycling solutions.
This may mean that we may need to conduct a no-obligation site review at your location to better understand your operations and needs. From that, we might provide certified drawings to help all parties understand the design, implementation, and maintenance of your specific solution.
Harmony knows that your business is unique and that the solutions to your waste or recycling problems might be, too. Taking the time to plan for needs assessments and site reviews now, in preparation for 2023, is a great idea!
Supply Chain and Current Orders
Another reason you may want to plan now for your 2023 baler & compactor purchases is to allow for extended lead times created by supply chain disruptions. It seems like every industry continues to be affected by these unpredictable and unfortunate circumstances.
While Harmony continues to work closely with all of our vendors to get the highest quality parts in a timely manner, recent supply chain issues during the past few years have regrettably lengthened some lead times on a limited number of orders.
To combat this problem, our purchasing. engineering, and management leadership teams have been proactively working with multiple partners to source these items as quickly as possible. We are doing everything we can to meet the demand of our customers by acquiring additional safety stock inventory, despite these supply chain issues.
Please know that although it has become harder to get the products we need in the short term, Harmony will not compromise on quality by outsourcing items from unqualified vendors. We believe in the value of using U.S. steel and quality component parts supplied by our pre-qualified partners. We are committed to working through these temporary shortages to bring you the finest waste and recycling products available on the market today.
Plus, business has been good at Harmony! Whether its one of our four innovative liquid extraction balers, our SmartPack Automatic Compactor, or T60XDRC conveyor fed recycling baler, orders for our long lasting solutions continue to roll in.
By planning for your baler & compactor needs now, you will be able to get your order in the “queue” and ensure delivery when you need it.
Contact Us Today To Start Planning For 2023!
Don’t put off saving on labor, hauling, and space, while improving workplace safety and the employee/customer experience related to trash and recycling. Harmony Enterprises is dedicated to helping you get the most out of your waste and recycling processes, while making the earth a better place for generations to come. Getting help with your 2023 equipment or service planning is only a phone call or click away. Call us at (507) 886-6666, email us at [email protected], or fill out this simple form today!
