2020 is just kicking off we are celebrating a silver anniversary this year!

The Load’N’Go was introduced in 1995 as a special build for a utility company in Southern California. They needed a service body that would fit in a standard 8’ truck bed, the Load’N’Go Truck Body was born! These were the first service body that were universal fit for full size truck beds and were completely transferable from truck to truck or truck to job site within minutes!

In the beginning, one model was available….the Load’N’Go Open Bed. Over the years, new innovations were added to the original Load’N’Go design essentially creating a whole Load’N’Go line. With several models now available in open and enclosed configurations for both 6.5' and 8' beds, and the creativity didn’t stop there!

We moved to a fully powder coated finish inside and out, making the already innovative

design the best available. We added a lighter, lower profile model in the Load’N’Go Sportsman in 2012, and launched our now most popular model the ST-2000 in 2013.

The newest improvement to the Load’N’Go line is our Easy-Glide drawer system. Our Load'N'Go drawers are built to last with a heavy-duty rail design that includes 16 sealed roller and 6 sealed guide bearings and offer 1000 lbs load capacity. The drawer pan is fully powder coated and includes a heavy-duty liner, and customizable divider package. The new one-handed pull and lock out integration make it the most user friendly drawer available today. They’re built to outlast multiple trucks and up-fit cycles and are simply the best in the business!

If you haven’t already done so, please visit our website to learn more about all of the Load’N’Go models and the benefits of a slip-on utility body.

Start saving time and money and Revolutionize Your Fleet!

Visit www.worktrucksolutions.net today!

September is upon us and it's time to start your year end tax planning! 

Section 179 Deduction at a glance for 2019: 

2019 Deduction Limit = $1,000,000

This deduction is good on new and used equipment, as well as off-the-shelf software. To take the deduction for tax year 2019, the equipment must be financed/purchased and put into service between January 1, 2019 and the end of the day on December 31, 2019.

2019 Spending Cap on equipment purchases = $2,500,000

This is the maximum amount that can be spent on equipment before the Section 179 Deduction available to your company begins to be reduced on a dollar for dollar basis. This spending cap makes Section 179 a true "small business tax incentive" (because larger businesses that spend more than $3.5 million on equipment won't get the deduction.)

Bonus Depreciation: 100% for 2019

Bonus Depreciation is generally taken after the Section 179 Spending Cap is reached. The Bonus Deprecation is available for both new and used equipment for 2019.

The above is an overall, "simplified" view of the Section 179 Deduction for 2019. For more details on limits and qualifying equipment, as well as Section 179 Qualified Financing, please read this entire website carefully. We will also make sure to update this page if the limits change.

Here is an updated example of Section 179 at work during this 2019 tax year.

What is the Section 179 Deduction?

Most people think the Section 179 deduction is some mysterious or complicated tax code. It really isn’t, as you will see below.

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. That means that if you buy (or lease) a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.

Several years ago, Section 179 was often referred to as the “SUV Tax Loophole” or the “Hummer Deduction” because many businesses have used this tax code to write-off the purchase of qualifying vehicles at the time (like SUV’s and Hummers). But that particular benefit of Section 179 has been severely reduced in recent years (see ‘Vehicles & Section 179‘ for current limits on business vehicles.)

However, despite the SUV deduction lessened, Section 179 is more beneficial to small businesses than ever. Today, Section 179 is one of the few government incentives available to small businesses, and has been included in many of the recent Stimulus Acts and Congressional Tax Bills. Although large businesses also benefit from Section 179 or Bonus Depreciation, the original target of this legislation was much needed tax relief for small businesses – and millions of small businesses are actually taking action and getting real benefits.

Essentially, Section 179 works like this...

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 company spends $50,000 on a machine, it gets to write off (say) $10,000 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, most business owners would really prefer to write off the entire equipment purchase price for the year they buy it. 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.

This has made a big difference for many companies (and the economy in general.) Businesses have used Section 179 to purchase needed equipment right now, instead of waiting. For most small businesses, the entire cost of qualifying equipment can be written-off on the 2019 tax return (up to $1,000,000).

Limits of the Deduction:

Section 179 does come with limits – there are caps to the total amount written off ($1,000,000 for 2019), and limits to the total amount of the equipment purchased ($2,500,000 in 2019). The deduction begins to phase out on a dollar-for-dollar basis after $2,500,000 is spent by a given business (thus, the entire deduction goes away once $3,500,000 in purchases is reached), so this makes it a true small and medium-sized business deduction.

Who Qualifies?

All businesses that purchase, finance, and/or lease new or used business equipment during tax year 2019 should qualify for the Section 179 Deduction (assuming they spend less than $3,500,000).

Most tangible goods used by American businesses, including “off-the-shelf” software and business-use vehicles (restrictions apply) qualify for the Section 179 Deduction.

For basic guidelines on what property is covered under the Section 179 tax code, please refer to this list of qualifying equipment. Also, to qualify for the Section 179 Deduction, the equipment and/or software purchased or financed must be placed into service between January 1, 2019 and December 31, 2019.

What's the difference between the 179 Deduction and Bonus Depreciation?

Bonus depreciation is offered some years, and some years it isn't. Right now in 2019, it's being offered at 100%.

The most important difference is both new and used equipment qualify for the Section 179 Deduction (as long as the used equipment is "new to you"), while Bonus Depreciation has only covered new equipment only until the most recent tax law passed. In a switch from recent years, the bonus depreciation now includes used equipment.

Bonus Depreciation is useful to very large businesses spending more than the Section 179 Spending Cap (currently $2,500,000) on new capital equipment. Also, businesses with a net loss are still qualified to deduct some of the cost of new equipment and carry-forward the loss.

When applying these provisions, Section 179 is generally taken first, followed by Bonus Depreciation - unless the business had no taxable profit, because the unprofitable business is allowed to carry the loss forward to future years.

Section 179's "More Than 50 Percent Business-Use" Requirement

The equipment, vehicle(s), and/or software must be used for business purposes more than 50% of the time to qualify for the Section 179 Deduction. Simply multiply the cost of the equipment, vehicle(s), and/or software by the percentage of business-use to arrive at the monetary amount eligible for Section 179.

I hope this information is helpful with your year end planning. You may as well buy the equipment you need and take the deduction...or you could just give it to the IRS. I'm sure they'll spend your money wisely! 

Updated: Aug 29, 2019

As Contractors you need to get the most out of your trucks. You need a rugged and user friendly utility body to organize your tools and materials without sacrificing your factory truck bed and payload. Large and small fleets alike can benefit from a fully transferable service body platform that allows use of the truck bed. Dedicated Bolt On Service Bodies simply can't offer this kind of flexibility, and often create equipment issues in the field when break downs occur. How many times have you have you had to transfer your tools and materials from one truck to another, only to get to the job site and have half of what you needed, because it was left in the down service truck?

Enter the revolutionary Load'N'Go Bodies from Work Truck Solutions.

These bodies offer a huge advantage over traditional bolt on bodies with the ability to transfer from truck to truck or truck to job-site in literally minutes, even when loaded with tools and equipment. This virtually eliminates downtime and offers fleets a tremendous savings in time and cost. The Load'N'Go Body can be removed and installed by forklift or optional jacks. HD lifting tubes w/ D-Rings are also available for crane or gantry removal.

The Load'N'Go offers maximum storage and usability with key features like a standard 1,000 lbs capacity pull out tool drawer with included customizable divider package, and large side cabinets with adjustable shelving. Additionally, the Load'N'GO bodies are the most secure utility body available, with industry leading heavy duty hardware and dual locking latch assemblies with keyed cylinder locks and pad lockable stainless steel T-Handles.

Load'N'Go bodies are available in Open Top, Fixed Top, & Roll Top Configurations for 6.5' or 8' FULL SIZE Truck Beds.

With no added up-fitting costs or time, Load'N'Go bodies offer the highest return on investment in the industry and this return only gets better with every up-fit/truck replacement cycle.

Load'N'Go: PowerBody

To learn more about the Load'N'Go Bodies and options available

please visit us online at worktrucksolutions.net  and get a detailed price Quote today!

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