With 2022 around the corner, I have TWO opportunities for you to say goodbye to the old and say hello to the NEW and IMPROVED!
NEW YEAR, NEW EQUIPMENT!
Head into 2022 with new and improved equipment. Don't miss out on your opportunity to take advantage of the Section 179 Deduction.
What is the Section 179 Deduction?
Essentially, Section 179 of the IRS tax code allows businesses to deduct the FULL PURCHASE PRICE of qualifying equipment and/or software purchased or financed during the tax year from your gross income. This deduction is good on new and used equipment, as well as off-the-shelf software. Act fast! In order to take the deduction for tax year 2021, the equipment must be financed or purchased and put into service between January 1, 2021 and the end of the day on December 31, 2021.
Advantages of Financing and Section 179
The obvious advantage to financing equipment and/or software and then taking the Section 179 Deduction is the fact that you can deduct the FULL amount of your purchase, without paying the full amount this year.
To put this into perspective...
In years past, when your business bought qualifying equipment, it typically wrote it off a little at a time through depreciation. In other words, if your business spent $20,000 on a piece of equipment, it gets to write off (say) $4,000 a year for five years (these numbers are only meant to give you an example).
Now, while it’s true that this is better than no write-off at all, as business owners I think we all can agree that we would really prefer to write off the entire equipment purchase price for the year it’s purchased in.
And that’s exactly what Section 179 does – it allows your business to write off the entire purchase price of qualifying equipment for the current tax year.
What’s more, the amount you save in taxes can potentially exceed the payments you make this year, making this a very bottom-line friendly deduction. As the close of the year approaches, don’t miss this great opportunity to maximize your purchasing power and invest in your business.
Other benefits of investing in new equipment:
- New equipment is more energy efficient than older equipment thereby saving your business money on energy bills.
- When older equipment starts to fail it tends to lead to the continuous need for repairs and new parts.
- Equipment that is out of service will lead to lost sales and revenue.
- Older equipment replacement parts can be hard to come by, especially with the current supply issues businesses and consumers are facing nationwide.
Need commercial kitchen equipment from someone with years of experience? You’re in luck, we’re your one stop restaurant supply store!
PFSbrands has an entire division dedicated to selling foodservice and restaurant equipment. PFSbrands commercial kitchen equipment division has outfitted over 3,000 locations and can help meet any of your needs. From hot cases to commercial fryers and everything in between, we’ve got you covered! We even offer equipment leasing to help fit any budget.
All equipment that is purchased from PFSbrands is supported by us. We do the training and programming, as well as helping you with any parts or services needed. For more information on our commercial equipment, contact your Business Advisor or our Customer Success department (855-632-3373). We even have used equipment for those on a budget and a full selection of new and used parts!
GOODBYE DRAB, HELLO FAB!
Do you have a pizza program in your location? 2022 might be the year for a reboot. We launched our two pizza programs this year (Hangar 54 Pizza and Wingman Pizza). Out of the gate, we had locations ready to jump on to convert from their existing pizza programs to ours. And you know what they said? They told us that our pizza program was better, easier, and more profitable than their previous programs.
Check out this flyer comparing our pizza program to one of the most popular pizza programs in the convenience industry, Hunt Brothers. Be sure to ask your Business Advisor about our conversion incentives!
Want more information on converting your existing pizza program to one of ours?
Contact your Business Advisor or reach out to our Customer Success team to get started.
MDF@PFSbrands.com | (573)-563-0300