Ready to cut costs while growing your business? Here’s how you can maximize your tax savings with DoALL! Are you looking to lower expenses and drive growth as 2024 comes to a close? If you're in manufacturing, metalworking, or any industry that relies on precise, high-performance cutting, now is the time to invest in a DoALL band saw and take advantage of Section 179 tax benefits.

Why should you care? Because this year, businesses can deduct up to $1,220,000 on qualifying equipment purchases, potentially saving up to 37% on your investment. By acting now, you’ll not only start 2025 with cutting-edge technology but also gain valuable tax savings to strengthen your bottom line.

What is the Section 179 Deduction?

Section 179 of the IRS tax code is a tax incentive for businesses that purchase qualifying new or used equipment. Under Section 179, businesses can deduct the full purchase price of qualifying equipment in the year it is purchased, rather than depreciating the equipment over several years. This deduction is a powerful tool for companies looking to reduce their taxable income and boost cash flow for reinvestment in other business areas. For 2024, the deduction limit is set at $1,220,000, meaning your business can potentially deduct that amount if you invest in the right equipment by the end of the year.

In addition to this deduction, businesses can also benefit from 60% bonus depreciation on the adjusted basis of equipment that exceeds the Section 179 limit. This means that after applying the Section 179 deduction, businesses can apply the 60% bonus depreciation to the remaining equipment cost, further reducing their taxable income.

Why Now is the Perfect Time to Invest in a DoALL Saw

Investing in a DoALL band saw doesn’t just elevate your operations—it brings immediate financial benefits for your business:

• Cut Purchase Costs by Up to 37%: With the Section 179 deduction and bonus depreciation, you could save a substantial portion of your equipment costs in tax deductions.
• Boost Your Productivity: DoALL saws are engineered for durability, precision, and performance, ensuring your operations run smoothly and meet high demands in the new year.
• Increase Financial Flexibility: Maximize your available cash flow for future investments or day-to-day operations by capturing these valuable tax benefits.

Example of Section 179 Savings

Let’s break down exactly how much you can save by purchasing new equipment under Section 179 and bonus depreciation. Let’s assume you invest in new equipment for $1,300,000:

1. Section 179 Deduction: You can immediately deduct up to $1,220,000 in the first year, reducing your taxable income right away.
2. Remaining Amount After Section 179 Deduction: $1,300,000 (purchase price) - $1,220,000 (Section 179 deduction) = $80,000 remains.
3. Bonus Depreciation (60%) on Remaining Amount: The remaining amount of $80,000 is eligible for 60% bonus depreciation, which equals $48,000.
4. Total First-Year Deduction: The total deduction you can claim in the first year is the sum of your Section 179 deduction and the bonus depreciation: $1,220,000 (Section 179) + $48,000 (bonus depreciation) = $1,268,000.
5. Net Equipment Cost After Tax Savings: After applying the deductions, your net cost for the equipment would be: $1,300,000 (initial cost) - $1,268,000 (total deductions) = $32,000.

In other words, thanks to the Section 179 and bonus depreciation, the effective cost of your new equipment could drop to just $32,000 after tax savings—a huge discount off the original price!

Key Benefits of Purchasing Before Year-End

• Immediate Tax Savings: Lower your taxable income for 2024 with these substantial deductions.
• Enhanced Cash Flow: Keep more of your hard-earned money available for other essential business expenses.
• Prepare for Growth: Upgrade your equipment now to meet future demands and ensure operational readiness.

Who Qualifies?

Any business that purchases new or used equipment may be eligible for Section 179 deductions, as long as the equipment is put into service between January 1, 2024, and December 31, 2024. For more details on eligibility, consult your tax advisor or visit the IRS website for Section 179 guidelines.

Key Takeaways for Steel Service Centers, Fabricators, and Machine Shops:

• Improved Cutting Efficiency: DoALL saws increase cutting speed and accuracy, which reduces labor costs and material waste.
• Enhanced Production Flexibility: Capabilities such as variable speed and adjustable angles allow for processing a variety of materials and projects with ease.
• Reduced Downtime: DoALL saws are known for their reliability and low-maintenance needs, which keeps your operations running smoothly and minimizes interruptions.
• Higher Quality and Precision: Ensuring that every cut meets exact specifications helps these businesses deliver top-tier products to their clients, improving their reputation and competitiveness.

By investing in a DoALL saw, steel service centers, fabrication companies, and metalworking shops can streamline their operations, reduce costs, and boost their bottom line—all while maintaining high standards of quality and service.

Don’t Wait Until It’s Too Late!

To take advantage of these valuable tax benefits, you need to purchase and put your DoALL equipment into service before the end of the year. Don’t miss out on the opportunity to secure major savings and set your business up for success in 2025. With DoALL’s high-performance saws, you’ll not only get tax relief, but also the tools you need for operational excellence.

Contact our team today to request a quote and discover how a DoALL band saw can transform your business while maximizing your tax benefits. Make 2024 the year to save big and set the stage for success with DoALL Sawing Products!