Companies in this industry manufacture a wide variety of goods; major product groups include food and beverages, chemicals, transportation equipment, and computers and electronics. Major companies include Boeing, Caterpillar, DuPont, Ford, GE, GM, Hewlett-Packard, IBM, Procter & Gamble, Pfizer, and Tyson Foods (all based in the US); Nestlé (Switzerland), Sanofi (France), Siemens (Germany), and Toyota Motor (Japan).
The global manufacturing industry generates more than $10 trillion in annual revenue. Top manufacturing countries include the US, Japan, China, Germany, Italy, and the UK. Leading exporting countries include China, the US, Germany, Japan, and France.
The US manufacturing sector consists of about 290,000 establishments (single-location companies and units of multi-location companies) with combined annual sales of about $5 trillion, and is forecast to grow at a moderate rate in the next two years. Leading growth drivers include rapid industrialization in the developing world, along with the use of technology to improve products and supply chains.
Section 179 Tax Deduction
Manufacturing and industrial equipment applications are eligible for significant tax benefits that allow for 100% first year depreciation expense on your new or used equipment.
Simply put; Your total equipment cost x 35% (your corp tax bracket) = first year tax credit. This can be a very sizable tax credit that may carried forward if not used up in the first year.
Example: $100,000 equipment cost x 35% = $35,000 Tax Credit. This brings your net equipment cost down to $65,000 and leaves $35,000 cash in the bank that would otherwise be paid in taxes.
Click here to find more information regarding IRS Section 179 and please consult your tax adviser or accountant prior to a making any decisions.
Tech Equipment Finance Will Lease or Finance Industrial Equipment For Almost Any Application...
Vendor Finance Program
If you are an equipment dealer or service provider, manufacturer or reseller and are interested in the many benefits of offering TechEFI financial services, just visit our Vendor Finance Program page.
Offering leasing and finance options to your customers and prospects can significantly increase revenues and help close more sales for you and your sales team. Leasing helps you maintain highers margins, fewer discounts, and can improve support and maintenance revenues.
Contact us today about this valuable and essential vendor program.