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Showing posts with the label section 179

5 Ways a Welbilt Equipment Package Can Strengthen Your Business

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Using compatible, automated equipment has long been a best practice in the manufacturing industry to streamline operations and contain costs. From reduced acquisition cost, quicker training and employee retention to materials management and efficient equipment maintenance, it is a proven way to compete in a crowded global marketplace.  The same applies to commercial and noncommercial kitchens. Large or small, your kitchen is in essence a food factory, where labor and materials are precious resources.  The more work your equipment does at the push of a button, the more time you and your team have to focus on the creativity and service that differentiate you from your competition. If you’re thinking about purchasing or leasing new kitchen equipment, please note that lead times for most equipment items (in foodservice and elsewhere) are longer than usual this summer, so it’s more important than ever to plan ahead. As you consider your options, here’s how choosing an equipme...

Can new equipment lower your tax bill?

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Taking Advantage of the Section 179 Tax Deduction for New Equipment If you’ve been putting off replacing unreliable or inefficient equipment, now may be a better time than you think to invest in your business and take advantage of a game-changing tax benefit. According to section179.org , all businesses that purchase, finance, and/or lease new business equipment during tax year 2020 should qualify for the Section 179 deduction. What does that mean to you? Section 179 allows your business to write off the entire purchase price of qualifying equipment for the current tax year (up to $1,000,000), which means that you can purchase the equipment that you need now. In fact, much of the equipment businesses purchased to comply with COVID-19 restrictions, such as sanitizing stations, dividers, and new printed signage, will also qualify for the Section 179 tax Deduction. You’ll find details on the new  Section 179 and COVID-19 page . Even if your business received a PPP loan or any other ...