Deduct Up To $1 Million In Equipment Per Section 179 – ALL CNC Factory Machines Qualify*
Cabinet and furniture makers can take up to $1 million in tax credits in 2021 with the new Section 179 tax deduction laws. In addition, they can write off 100% depreciation in the first year. Now when buying woodworking CNC equipment for a business, the full purchase price can be deducted from gross income – plus an extra 100% for the first year of depreciation.
“It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves,” Chris Corrales, Owner of CNC Factory says.
“The Cabinet Shop Enjoyed The Tax Savings On Our 2019 Tax Return But We Enjoy Automating Our Production Even More!”
– Curtis Urrutia, Owner Of The Cabinet Shop
CNC Factory designs, builds and manufactures CNC machines in their Southern California facility. “This allows companies to buy their equipment before December 31, add the work capacity they need, while reaping the benefits of the tax savings,” Corrales explains. “Our one-operator Python XPR is a great example of how new technology allows companies to build more with less – quickly increasing production without adding manpower,” Corrales explains.
Curtis Urrutia, owner of The Cabinet Shop in Middleton, Idaho, uses the one-operator Python XPR to meet aggressive timelines every day. He also purchased the Badger Edgebander from CNC Factory, and took advantage of the section 179 deductions. “We are growing quickly and the 179 tax incentives couldn’t have come at a better time. We needed CNC Factory’s six station edgebander to meet the demands of our customers and grow our capacity, fast!”
According to Corrales, the 5th Generation Python XPR is a game changer in the woodworking industry allowing woodshops of any size to benefit from:
1) automatic labeling and marking with post production instructions;
2) robotic arm to move materials from station to station; and
3) the ability to control the entire process with only one screen and one operator.
“I can’t tell you how many customers have thanked me for saving them so much time, making their shops run incredibly smoother, and making the new Python super easy to operate,” Corrales says.
“The Cabinet Shop enjoyed the tax savings on our 2019 tax return but we enjoy automating our production even more!” Urrutia says.
Video link: https://youtu.be/UmCk7Gjeri0
*For informational purposes only and should not be taken as legal advice. Please consult your accountant before availing of the Section 179 tax break.