Is Now The Time To Buy?
As the year draws to a close, many business owners find themselves struggling to make the aged-old decision regarding capital expenditures. “Should I put off making capital investments until 2020, or is now the time to buy waste and recycling equipment?” Every business is different, and there are a lot of things to weigh out before resolving that internal question.
Luckily, there are federal tax incentives and financing options available through Harmony Enterprises and Harmony Equipment Rental that will help you realize that now is the time to buy waste and recycling equipment.
What You Need To Know
Section 179 has been extended and updated for 2019
Federal tax laws have changed during the past few years and the Section 179 Tax Deduction continues to evolve and benefit business owners throughout the United States.
In short, this tax deduction allows a business expense the entire cost of equipment purchases in the year they were purchased, rather than depreciating the cost over a lengthy period of time.
What You Need To Know For 2019:
- The deduction limit on equipment purchases for Section 179 for 2019 and beyond, remains at $2.5 million.
- The bonus depreciation is 100% and is good through 2022.
- The Section 179 applies to both new and used equipment.
More information is available at section179.org
Harmony Has Financing Options
Sometimes, the lack of cash flow can make the decision of when to buy necessary equipment extremely difficult, even with the opportunity for aggressive tax deductions. When that happens, there are options for you to consider.
Harmony Enterprises offers financing options that allow you to lease your equipment and take advantage of tax incentives and ownership of the equipment over time. To learn more about our lease program, please contact our sales department at [email protected] for more information.
Harmony Equipment Rental provides affordable and convenient rental options for those businesses who need lower monthly payments in order to acquire the equipment they need. Although renting equipment does not allow companies to be eligible for Section 179 tax deductions, there are many tangible benefits to renting you should know about.
With renting from Harmony Equipment Rental:
- You can conserve your working capital
- Your rental payments are tax deductible
- Your equipment will always be running at top-notch since preventative maintenance is included in the agreement
- If your equipment breaks down, service issues are included in the agreement
- Freight and installation are included in the rental price, avoiding additional upfront costs
- After the rental terms is up, you can choose to renew the contract at the same monthly price for up to 30 more months
- Renting a baler or compactor allows you to add to or upgrade the equipment, avoiding equipment obsolescence
- Extend your current credit lines by renting
- See how the equipment pays for itself when you match your revenue/cost savings to monthly payments
- There will be no blanket liens, so your other assets are safe
As you can see, there are advantages to each method of obtaining waste and recycling equipment from Harmony Enterprises. No matter which method you choose, you are sure to experience an immediate ROI and benefit from the efficiency, recycling revenue, reduced FTE expenses, reduced hauling expenses, and improved workplace environment with your new baler or compactor. Now is definitely the time to buy the equipment you need!
To learn more about Harmony Enterprises, our innovative products, quality service, and how you can take advantage of end of the year incentives, please call us at (507) 886-6666 or Contact Us today!
Harmony Enterprises does not offer individual tax advice. We encourage you to talk to your accountant or tax attorney for more information on how the Section 179 code specifically addresses your company.