Posted: April 12, 2018 Filed under: Materials Handling, News, Uncategorized | Tags: akron, BYD Forklifts, canton, electric forklift, Forklift Battery, Forklift Charger, Material Handling, new forklift, youngstown
Click above to see the features and benefits of BYD’s iron phosphate battery powered forklifts.
Posted: January 11, 2018 Filed under: Materials Handling, News, Regulatory | Tags: akron, canton, forklift, Material Handling, new forklift, section 179, Taxes, youngstown
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 888-375-0829 for more information or a quote.
Posted: July 21, 2017 Filed under: Materials Handling, News | Tags: akron, canton, Economy, Forklifts, GDP, Industrial Trucks, youngstown
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 Ohio forklifts generate over $2.4 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 Ohio, state and local taxes are over $179 million dollars.
As you can see, when we sell a forklift we create a lot of work not only here at Valley, 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: August 12, 2014 Filed under: Fleet Management, Materials Handling, Warehouse Management | Tags: employee, empowerment, materials handling, motivation, productivity
Whether you’re trying to improve productivity on your assembly line, in your materials handling operation or in your accounting department, there are a few things that you can do that transcend functional lines and apply to almost all individuals.
Empower – You hired people to do a job. Let them do it! Happy, productive employees have confidence and freedom backed up by employers that support that freedom, to find better ways to do things and yes, make mistakes. Empowering employees that are intelligent and hard working, while still maintaining operating parameters or “rules”, will result in employees that will make significant impacts on your operations.
Inclusiveness – You’ll be surprised with the input you’ll get if you ask. Much like a golf scramble works. In more foursomes none could shoot even par for the course, but combined, four 15 handicappers can shoot below par. Why is this and how is this possible? It’s simple, you’re taking the best of each person on each shot. Now imagine all that latent potential in your employees. Are you utilizing it?
Appreciate – The words “thanks” and “you’re doing a great job” go a long way, but how often are they heard? Like many relationships, time can do damage the gentlemen and ladies we once were. So make a point to appreciate your employee’s efforts and inputs. Mix it up, have pizza parties, send cards, make announcements, but be sure it’s sincere. Employees can smell smoke a mile away.
Each one of your employees has a lot of potential. It’s up to us to find it and put it to work for the productivity and profitability of our companies. And the best managers know how to do it and get the most out of each and every one of them. Good luck, and thanks for reading!
Each one of your employees has a lot of potential. It’s up to us to find it and put it to work for the productivity and profitability of our companies. And the best managers know how to dot and get the most out of each and every one of them. Good luck, and thanks for reading!
Posted: April 21, 2014 Filed under: Fleet Management, Materials Handling | Tags: akron, canton, electric forklift, forklift, going green, IC forklift, lift truck, LP forklift, materials handling, ohio, youngstown
Slowly but surely, electric forklifts are carrying more of the daily material handling load. Some of the reasons are obvious, but it is clear to most that eventually we must do more than continue to burn fossil fuels in the transportation of our products. We still have a ways to go before electric forklifts can perform all the tasks as well as their LP forklift counterparts. However, most forklift manufacturers are improving performance and outdoor durability with each passing year. It is only a matter of time before they catch up. There a good reasons for this transfer of power, a few major reasons are:
- Reduced maintenance costs – Electric forklifts have fewer moving parts than their internal combustion counterparts. Fewer parts, means reduced maintenance, which results in a considerable reduction in maintenance.
- Greatly reduced environmental impact – Electric forklifts not only greatly, if not eliminate emissions, there are other environmental benefits including, no engine coolant to dispose of or purchase, no engine oil or transmission fluid to do the same.
- Improved ergonomics and working environment – Electric forklifts are quieter with nearly no vibrations to deal with. This provides a more comfortable operating atmosphere for your forklift operators as well as the rest of the personnel that work around your lift trucks.
- Supply chain trends to go green – Every year, more and more companies are encouraging if not outright requiring their suppliers to improve their impact on the environment and electric forklifts are one of the major steps that companies are taking to do so.
While we have some work to do, it’s pretty clear that electric forklifts are making great strides to become a mainstay in materials handling equipment. Check out our line-up of GEX seriers, 80Volt electric forklifts from Clark Material Handling.Call us for more information or a quote today and start improving your environmental impact and your bottom line!
Posted: December 30, 2013 Filed under: Materials Handling, Warehouse Management | Tags: 2014, Concerns, Distribution, Management, New Year, Warehousing
2013 showed economic progress and a glimmer of light for distributors going into the new year. Modern Distribution Management put together a survey showing the business-specific concerns and industry-wide concerns for 2014. Read what they are…
Posted: October 22, 2013 Filed under: Materials Handling, Warehouse Safety | Tags: akron, canton, pallet rack, rack, racking, warehouse, youngstown
Using the wrong racking for the application, too much of it, not enough or improper use of racking can result in product loss, structure damage, physical injury and even death. Below are the top reasons racking fails to support and collapses.
- Poor storage rack design – unsafe racking manufactured without integrity.
- Rack that is not assembled or installed properly
- Using the wrong equipment in combination with the racking you have installed.
- Operator error
- Structural problems with floor or other imperfections in your facility structure
Working with professionals that can help you specify the right racking and get it installed properly can go a long way with ensuring safety and longevity with the storage of your materials. Visit our Racking Solutions Webpage and call us if you can any questions or would like us to help you specify racking for your facility.