Weather , , 0°C

Section 179 Deduction Deadline for 2021 Makes Purchasing Balyo AGVs Profitable This Year

 Breaking News
  • No posts were found

Section 179 Deduction Deadline for 2021 Makes Purchasing Balyo AGVs Profitable This Year

September 13
08:39 2021
Section 179 Deduction Deadline for 2021 Makes Purchasing Balyo AGVs Profitable This Year

John Hayes, Director of Sales for Balyo, is working with many companies to ensure they are able to take advantage of the Section 179 deduction for AGVs. To be eligible for a 2021 Section 179 deduction, the eligible equipment must be purchased and put into service by midnight December 31, 2021. It is not enough to simply buy the equipment and there are currently no plans to waive the “put into service” requirement.

Much of the equipment businesses purchased to conform to COVID-19 restrictions will qualify for the Section 179 tax deduction. If a company received a PPP loan or any other pandemic-related assistance, they may still claim their Section 179 deduction.

The 2021 Section 179 Deduction Limit for Businesses is $1,050,000.

The Section 179 deduction for 2021 is $1,050,000 (up from $1,040,000 in 2020). This means U.S. companies can deduct the full price of qualified equipment purchases, up to $1,050,000, with a “total equipment purchase” limit of $2.62 million (up from $2.59 million in 2020). In addition, businesses can take advantage of 100% bonus depreciation on both new and used equipment for the entirety of 2021.

According to Hayes, “In 2021, many businesses are finding Section 179 Qualified Financing to be a very attractive option, especially with several expected Federal Discount Rate increases looming. Section 179 can be extremely profitable.”

Successful businesses take advantage of legal tax incentives to help lower their operating costs. The Section 179 deduction is a tax incentive that is easy to use and gives businesses an incentive to invest by adding capital equipment – equipment that they use to improve their operations and further increase revenue.

Hayes noted that manufacturers or intralogistics warehouse operators who buy, finance, or lease qualifying equipment, vehicles, and software, are able to take a full tax deduction this year. Many people find if they lease or finance their Section 179 qualified equipment, the tax savings will actually exceed the total of the first year’s payments on the equipment, which makes buying equipment profitable for the current tax year.

About BALYO:

BALYO is the leader in the design and development of innovative robotic solutions for material handling trucks. The company’s enhanced technological platform reduces sales cycles and benefit from the ramp-up of direct sales in the U.S.

BALYO transforms standard forklift trucks into standalone intelligent robots thanks to its breakthrough proprietary Driven by Balyo™ technology. The geoguidance navigation system developed by BALYO allows vehicles equipped with the system to locate their position in real-time and navigate autonomously inside buildings/warehouses. Within the automated handling vehicle market, the profitability of purchasing is unmatched.

Connect with Hayes on LinkedIn or schedule to speak with him here.

Media Contact
Company Name: Balyo, Inc.
Contact Person: John Hayes, Director of Sales
Email: Send Email
Phone: (704) 905-1571
Address:78 B-Olympia Avenue
City: Woburn
State: MA
Country: United States
Website: https://www.balyo.us/company/

Related Articles

Calendar

September 2021
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  

Categories