Instead of buying new equipment, consider letting us take your old, tired forklift, and make it like new again! This Taylor X280 had done it’s job, performed well, but had seen better days. The customer was having a hard time letting it go and purchasing a new one, so we said “hey, let’s take this machine and make it like new again!” Below are the results.
Have a forklift, yard spotter or other piece of material handling equipment, that perhaps you’re just not ready to let go? Give us a call at 800-322-5438 for a quote on letting our team of refurb pros make it like new again!
Even a well-maintained forklift fleet needs to be replaced at some point in time. Knowing exactly when can be a difficult thing to ascertain. Industry averages reveal that somewhere between 8,000 hours and 10,000 hours of use is when you’re going to reach an optimal point to replace your forklifts. Some questions to ask to help determine if it is time include:
What type of operation does each forklift perform each day? Does your forklift face harsh conditions like heat, dust, rough terrain or any other condition that would put undue stress on the engine, transmission or hydraulics?
Is your forklift put to the test each and every lift, lower and transport? Does it handle its maximum capacity more than half the time, or less?
Does your forklift do a lot of starting, stopping and backing up? Does it frequently conduct long runs in large open areas?
Have you adequately maintained the equipment using a regularly scheduled Planned Maintenance Program?
How has the cost of repairs for each unit changed over the past two to three years? A dramatic increase in repairs (not normal planned maintenance or normal wear parts) can indicate that you’re spending more than you should on repairs. A cost-per-hour analysis may be in order.
The not-so-obvious costs associated with worn forklifts is downtime, lost productivity and the short-term cost of replacing them with rentals. These costs may not show up on a unit’s cost per hour, but they are costs nonetheless. Keeping count of rentals due to downtime and repairs is essential in determining replacement, as new forklifts will all but eliminate your rentals due to downtime.
There are other reasons that may eliminate the guesswork and actually require you to replace your aging fleet:
Safety features are outdated and cannot be updated properly. For example, safety requirements may change and a new safety harness system would replace traditional seatbelts. Also, if safety options have improved fleet safety and the cost to update them would be prohibitive, it would be a good time to consider replacement.
If your forklifts are exhibiting signs of unsafe operating conditions like hydraulic failure, equipment shaking or jerking or leaking components, it’s likely time to replace the units.
Another reason to consider updating your forklift fleet are improvements in technology, hardware or performance. For example, now that electric forklifts have become more powerful and reliable outdoors, it could be a great time to consider replacing your IC forklifts.
As you can see, looking at the hour meter is not the sole solution that it used to be to consider replacement. We would be glad to consult with you to assess your fleet condition and help you determine if now is a good time to consider your forklift fleet retirement or replacement. Just give us a call at 800-322-5438. Visit our website to see our new forklift line-up.
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.
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.
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:
Cal-Lift Inc. 