Posted: January 9, 2018 Filed under: Forklift Equipment, Material Handling, Uncategorized, Used Forklifts | Tags: chicago, new forklift, new lift truck, Section 179, used forklift, used lift truck, west chicago
With the passage and signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond. The limit on equipment purchases likewise has increased to $2.5 million.
Further, the bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022. The bonus depreciation also now includes used equipment.
See the fully updated 2018 Section 179 Calculator to see how this tax deduction affects your company.
2017 Section 179 Tax Information (Last Year)
The Section 179 deduction is $500,000 for 2017, with a 50% bonus depreciation in place until late September (see 2018 information for change).
Click Here for the fully updated Section 179 Calculator for tax year 2017 (Last Year).
Answers to the Three Most Common Section 179 Questions
How Much Can I Save on My Taxes in 2018?
It depends on the amount of qualifying equipment and software that you purchase and put into use. See the handy Section 179 Calculator that’s fully updated for 2018, and includes any/all increases from any future legislation.
What Sort of Equipment Qualifies in 2018?
Most tangible business equipment qualifies. Click here for qualifying property.
When Do I Have to Do This By?
Section 179 for 2018 expires midnight, 12/31/2018. If you wish to deduct the full price of your equipment from your 2018 taxes and take advantage of the new higher deduction limits, it must be purchased and put into service by then.
Many businesses are finding Section 179 Qualified Financing to be an attractive option in 2018, especially since the expected Federal Discount Rate increases don’t leave much time for action. Please apply today.
More Section 179 Deduction Questions Answered
Welcome to Section179.Org, your definitive resource for all things Section 179. We’ve brought together a large amount of information regarding Section 179, and clearly and honestly discuss the various aspects of IRS §179 in plain language. This will allow you to make the best possible financial decisions for your company.
Section 179 can be extremely profitable to you, so it is to your benefit to learn as much as possible. To begin, you may have a lot of questions regarding Section 179 such as:
Check out our line-up of new forklifts or used forklifts, then contact us at 888-530-1832 for more information or a quote.
Posted: July 21, 2017 Filed under: Management, Material Handling, News | Tags: chicago, Economics, forklift, GDP, Industrial Trucks, Material Handling, west chicago
Industrial trucks and forklift sales are directly tied to our economy. When our economy does well, more forklifts are required to move the goods ordered by customers and end-users. Conversely, when a downturn occurs, forklift sales drop, sometimes dramatically as they did with the recession of 2009. What few people understood until now, the economic impact these forklifts make on our economy. Recently the Industrial Truck Association in conjunction with Oxford Economics researched the topic, and below are some of the significant findings.
- Industrial truck manufactures generate 209,600 jobs in the US, directly and indirectly.
- The economic impact of forklift on the US economy is $25.7 billion dollars. Here in Illinois forklifts generate over $3.5 billion dollars to our state economy.
- Over $15 billion of that contribution is a result jobs that support forklift sales and service such as service technicians, the parts that are made and sold and installed on forklifts, training centers etc…
- The Bureau of Labor and Statistic (BLS) estimates that there are about 540,000 industrial truck operators in the US.
- There are over 200,000 forklifts sold annually in the US.
- Over 1 million forklifts are sold around the world each year.
- The industrial truck industry generate about $5.3 billion dollars in state and local taxes. Here in Illinois, state and local taxes are over $271 million dollars.
As you can see, when we sell a forklift we create a lot of work not only here at Apex, but for our customers, their customers and the impact is felt all throughout our state and national economy.
Report – Industrial Trucks Effect on State and National Economics
Posted: June 7, 2017 Filed under: Employee Safety, Forklift Safety, Material Handling, Uncategorized | Tags: chicago, Employee Health, employee safety, forklift operator training, forklift safety, west chicago
The hot summer months are upon us. With increased heat and humidity workers become more susceptible to heat-related illnesses. Workers who are not accustomed to working in the heat can quickly become ill and experience heat stroke, which can lead to serious illness and even death. Since your forklift operators will frequently work outside and on equipment that utilizes internal combustion engine, part of your forklift operator training, should be awareness of heat illness.
There are a few things to keep in mind about heat-related illness and what you can do to help prevent it in your workers.
- Train your employees about the dangers of heat-related illnesses. OSHA has excellent training information and materials to help you relate this information to all of your employees who work in the heat. Part of that training should be to recognize the symptoms of heat-related illnesses and to act upon them immediately. Never brush it off and continue working. The symptoms exist for a reason!
- Understand that all employees are not equally able to resist the heat. Employees should be able to assess their own conditioning and how well they handle heat. Employees who are taking certain prescription medications or have certain chronic illnesses, such as diabetes, need to pay special attention to how they feel while working. Employees who are new to outdoor jobs are often most susceptible to heat-related illnesses. Try to ease them into the normal workload gradually, until you’re confident they are acclimated.
- Provide additional water stations during the hotter months, at more convenient locations, and encourage employees to drink water every 15 minutes or so, based on temperature. Never wait until you are thirsty to start re-hydrating.
- Provide for more frequent breaks. In the long run employees will be more productive in the heat if they are getting proper rest to allow their bodies to cool down while also keeping themselves better hydrated during these breaks.
- Proper ventilation and air movement inside your warehouse or material handling facility is very important in keeping the temperature at safe levels and your workers cool. Ceiling fans, screen doors for warehouse dock doors, and roof vents are great ways to keep your facility comfortable and more productive.
OSHA has provided a wealth of information to help you provide a safe atmosphere to deal with the summer heat. While OSHA does not have a standard pertaining to preventing heat illnesses, it is up to us to be sure we have done everything that we can to help our employees stay safe and avoid heat-related illnesses.
Well-trained and equipped employees are more productive employees. Keeping them safe from the heat during the summer months ensures better productivity for tomorrow and years beyond. But it is ultimately up to us as the employers to be sure our employees are prepared to understand and act accordingly to ensure their own safety.
Posted: August 26, 2015 Filed under: Management, Material Handling, Warehouse Safety | Tags: Apex Storage Products, chicago, illinois, pallet racking, pallet racking systems, pus-back racking, push-back pallet rack, push-back racking system, west chicago
Push-back combines the density of drive-in rack with the selectivity of single selective pallet rack using a series of mobile carts that ride on rails within each row. A loaded pallet is placed on the upper cart within the system. As the next pallet is loaded, the forklift gently pushes the first pallet load back, exposing the 2nd cart. The process continues until all carts are used (typically 3-4 deep), with the last pallet resting on the rails. As each pallet is extracted the subsequent pallet flows to the aisle face for selection, allowing for highly productive pallet retrieval.
Push-back is a last-in/first out (LIFO) storage solution and not appropriate for items with expiration dates. Additional vertical clearance is needed per level to accommodate stacked carts which may limit the number of vertical positions available.
Advantages | Considerations:
- High density system
- Requires limited number of aisles
- Ideal for high-volume, low-SKU applications
- LIFO stock rotation – drive-in
- FIFO stock rotation – drive-through
- Systems can be underutilized as SKUs increase (honeycombing)
Learn more about push-back pallet systems, how they work and why they might benefit your material handling operation. For more information or a quote, contact us or give us a call at 877-8703-4374.