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As we approach the end of 2020, businesses continue adjusting their operations to address changes brought on by the COVID-19 pandemic. For companies experiencing greater customer demand, some need additional equipment to process more orders through their warehouses, distribution centers or other facilities. Section 179 of the US Tax Code enables businesses to save money by allowing companies to deduct the entire purchase price of qualifying new and used equipment from their taxable profits.

Companies purchase used lift equipment for a number of reasons. Newer companies with limited cash on hand may prefer the lower up-front costs of used equipment. Companies with cyclical handling needs, or with unexpected spikes in production, also may find used equipment useful as a stopgap measure. And in other cases, the features of a brand-new piece of equipment may not be desired or required for the application at hand.

Planned maintenance services are essential programs for maintaining the quality and effectiveness of your equipment. These services not only save you money but assure your equipment is running at peak performance. Being proactive about servicing equipment allows you to maintain high levels of productivity and prevent any serious repairs. However, it is important to be strategic when choosing planned maintenance services to make sure you select the right equipment maintenance plan and maximize the value and return you will get on your investment.

The best time to replace material handling equipment is not always obvious. If you replace equipment too soon, you may not be getting the full return on your investment. Replace it too late, however, and you may encounter production and capacity issues in addition to unscheduled and unexpected financial costs. Not to worry. We will explain the key factors to keep in mind to help you know when to buy a new forklift or other piece of material handling equipment.