In the competitive world of sign-making, staying ahead often means investing in advanced equipment that improves efficiency, enhances quality, and meets industry standards like ADA compliance. However, the cost of such investments can be a significant hurdle. This is where the Section 179 deduction becomes a game-changer.
Section 179: A Tax Break That Sign-Making Companies Can’t Afford to Miss
By allowing businesses to deduct the full cost of qualifying equipment and software in the year of purchase, this tax incentive makes upgrading your tools not only achievable but also financially smart.
For sign-making companies, leveraging Section 179, especially when purchasing innovative equipment from Nova Polymers, can unlock growth opportunities while reducing tax liabilities.
1. Purchase and Place Equipment in Service
To qualify for the Section 179 deduction, equipment must be purchased and actively used in the business by the end of the tax year. For example, if you purchase a Nova Polymers photopolymer processing unit or their Illuminator Exposure System in 2024 and start using it immediately, the full cost may be deductible.
2. Combine Section 179 with Bonus Depreciation
For 2024, businesses can also take advantage of bonus depreciation. While Section 179 has limits on how much can be deducted, bonus depreciation allows companies to deduct additional costs for new and used equipment. This makes it ideal for larger purchases, such as multiple machines or complete production systems.
3. Finance or Lease Equipment
Even if you finance or lease equipment from Nova Polymers, you can still deduct the full purchase price under Section 179. This strategy allows you to gain tax benefits while preserving cash flow for other business needs.
What to Know About Section 179
Deduction Limits for 2024
- Maximum Deduction: $1,160,000
- Spending Cap: $2,890,000
- Bonus Depreciation: Available for additional deductions beyond Section 179 limits.
Qualifying Equipment
Most equipment used in sign-making qualifies, including:
- Photopolymer processing systems
- Wide-format printers
- Software for design and production
- Specialized tools for ADA-compliant signage
Nova Polymers, a leader in photopolymer solutions, offers a range of equipment and materials that meet Section 179 qualifications, making their products an excellent choice for companies looking to upgrade.
Why Nova Polymers Equipment is a Perfect Fit for Section 179
Nova Polymers specializes in products for ADA-compliant and custom signage, offering tools that set businesses apart in the competitive signage industry.
Our solutions include:
- Photopolymer Processors: Ideal for creating high-quality ADA-compliant signs.
- Signage Materials: Fully compatible with modern manufacturing workflows.
By leveraging the Section 179 Deduction, you can invest in Nova Polymers’ innovative equipment to enhance your production efficiency and expand your service offerings while enjoying significant tax savings.
Steps to Maximize the Benefits of Section 179
- Identify Your Needs: Assess your current equipment and identify areas for improvement.
- Choose Qualifying Equipment: Select tools and technology from Nova Polymers that align with your business goals.
- Consult Your Tax Advisor: Ensure you understand how to apply Section 179 and bonus depreciation to your purchases.
- Purchase and Use Before Year-End: Complete purchases and begin using the equipment by December 31 to qualify for the current tax year.
Document Everything: Maintain records of your purchase, financing, and usage to support your tax deduction claims.
Section 179: A Game-Changer for Sign-Making Companies
Investing in the right equipment is critical for sign-making companies aiming to stay competitive and meet customer demands. By utilizing the Section 179 deduction, businesses can reduce the financial burden of upgrading their tools and technologies while positioning themselves for growth.
Whether you’re investing in Nova Polymers’ advanced photopolymer systems or other sign-making equipment, Section 179 makes it easier to stay innovative and compliant. Consult your tax professional today to make the most of this valuable tax benefit!
Learn more about Nova Polymers’ solutions and start planning your equipment investments for maximum tax savings.
