Posted: January 10, 2018 Filed under: Information and News, Management, Regulatory, Uncategorized | Tags: charlotte, greensboro, Greenville, material handling, new forklifts, raleigh, Section 179, Taxes, used forklifts
With the passage and signing into law of H.R.1, aka, The Tax Cuts and Jobs Act, the deduction limit for Section 179 increases to $1,000,000 for 2018 and beyond. The limit on equipment purchases likewise has increased to $2.5 million.
Further, the bonus depreciation is 100% and is made retroactive to 9/27/2017 and good through 2022. The bonus depreciation also now includes used equipment.
See the fully updated 2018 Section 179 Calculator to see how this tax deduction affects your company.
2017 Section 179 Tax Information (Last Year)
The Section 179 deduction is $500,000 for 2017, with a 50% bonus depreciation in place until late September (see 2018 information for change).
Click Here for the fully updated Section 179 Calculator for tax year 2017 (Last Year).
Answers to the Three Most Common Section 179 Questions
How Much Can I Save on My Taxes in 2018?
It depends on the amount of qualifying equipment and software that you purchase and put into use. See the handy Section 179 Calculator that’s fully updated for 2018, and includes any/all increases from any future legislation.
What Sort of Equipment Qualifies in 2018?
Most tangible business equipment qualifies. Click here for qualifying property.
When Do I Have to Do This By?
Section 179 for 2018 expires midnight, 12/31/2018. If you wish to deduct the full price of your equipment from your 2018 taxes and take advantage of the new higher deduction limits, it must be purchased and put into service by then.
Many businesses are finding Section 179 Qualified Financing to be an attractive option in 2018, especially since the expected Federal Discount Rate increases don’t leave much time for action. Please apply today.
More Section 179 Deduction Questions Answered
Welcome to Section179.Org, your definitive resource for all things Section 179. We’ve brought together a large amount of information regarding Section 179, and clearly and honestly discuss the various aspects of IRS §179 in plain language. This will allow you to make the best possible financial decisions for your company.
Section 179 can be extremely profitable to you, so it is to your benefit to learn as much as possible. To begin, you may have a lot of questions regarding Section 179 such as:
Check out our line-up of new forklifts or used forklifts, then contact us at 866-393-9833 for more information or a quote.
Posted: October 26, 2017 Filed under: Forklift Safety, Management, Regulatory, Uncategorized | Tags: charlotte, citations, forklift maintenance, Forklift Operator Training, forklift safety, greensboro, material handling, osha, raleigh, Regulations, safety, Violations
From the OSHA blog:
Labor’s Occupational Safety and Health Administration releases a preliminary list of the 10 most frequently cited safety and health violations for the fiscal year, compiled from nearly 32,000 inspections of workplaces by federal OSHA staff. One remarkable thing about the list is that it rarely changes.
Year after year, inspectors see thousands of the same on-the-job hazards, any one of which could result in a fatality or severe injury. More than 4,500 workers are killed on the job every year, and approximately 3 million are injured, despite the fact that by law, employers are responsible for providing safe and healthful workplaces for their workers. If all employers simply corrected the top 10 hazards, we are confident the number of deaths, amputations and hospitalizations would drastically decline. Consider this list a starting point for workplace safety:
- Fall protection
- Hazard communication
- Respiratory protection
- Powered industrial trucks
- Machine guarding
- Electrical wiring
- Electrical, general requirements
It’s no coincidence that falls are among the leading causes of worker deaths, particularly in construction, and our top 10 list features lack of fall protection as well as ladder and scaffold safety issues. We know how to protect workers from falls, and have an ongoing campaign to inform employers and workers about these measures. Employers must take these issues seriously. We also see far too many workers killed or gruesomely injured when machinery starts up suddenly while being repaired, or hands and fingers are exposed to moving parts. Lockout/tagout and machine guarding violations are often the culprit here.
Proper lockout/tagout procedures ensure that machines are powered off and can’t be turned on while someone is working on them. And installing guards to keep hands, feet and other appendages away from moving machinery prevents amputations and worse. Respiratory protection is essential for preventing long term and sometimes fatal health problems associated with breathing in asbestos, silica or a host of other toxic substances. But we can see from our list of violations that not nearly enough employers are providing this needed protection and training.
The high number of fatalities associated with forklifts, and high number of violations for powered industrial truck safety, tell us that many workers are not being properly trained to safely drive these kinds of potentially hazardous equipment. Rounding out the top 10 list are violations related to electrical safety, an area where the dangers are well-known. Our list of top violations is far from comprehensive.
OSHA regulations cover a wide range of hazards, all of which imperil worker health and safety. And we urge employers to go beyond the minimal requirements to create a culture of safety at work, which has been shown to reduce costs, raise productivity and improve morale.
To help them, we have released new recommendations for creating a safety and health program at their workplaces. We have many additional resources, including a wealth of information on our website and our free and confidential On-site Consultation Program. But tackling the most common hazards is a good place to start saving workers’ lives and limbs.
Learn more about Tri-Lift’s Forklift Operator Training and contact us to be sure your operators are trained to properly operate the forklifts you own, under the conditions you operate. Well-trained forklift operators are more productive, less costly and more profitable for your material handling operation.
Well-maintained forklifts are also more productive, safer and have a longer useful life. Find out more about how we can help you keep your forklift fleet operating at peak efficiency and safety at our forklift services page.
Contact us to learn more at 866-393-9833.
Posted: September 28, 2017 Filed under: Forklift Safety, Management, Regulatory, Uncategorized | Tags: charlotte, employee health, employee safety, Forklift Operator Training, forklift safety, greensboro, osha, raleigh, warehouse safety
We talk a lot about employee safety, particularly within the confines of forklifts. But OSHA has compiled plenty of information that demonstrates it is more profitable in the long-run for companies to invest in health, wellness and safety programs for their employees. Just like forklift operator safety training, investing in other aspects of your employee’s job safety and overall health, your company reaps the rewards of less sick time, improved performance and productivity, and yes, profits. Following is OSHA’s business case:
Employers that invest in workplace safety and health can expect to reduce fatalities, injuries, and illnesses. This will result in cost savings in a variety of areas, such as lowering workers’ compensation costs and medical expenses, avoiding OSHA penalties, and reducing costs to train replacement employees and conduct accident investigations. In addition, employers often find that changes made to improve workplace safety and health can result in significant improvements to their organization’s productivity and financial performance.
The following resources provide background on the economic benefits of workplace safety and health and how safety managers and others may demonstrate the value of safety and health to management.
Management Views on Investment in Workplace Safety and Health
- Y.H. Huang, T.B. Leamon, et al. “Corporate Financial Decision-Makers’ Perceptions of Workplace Safety.” Accident Analysis and Prevention, Vol. 39, No. 4, pp. 767-775 (2007). This study reviewed how senior financial executives perceived workplace safety issues. The executives believed that money spent improving workplace safety would have significant returns. The perceived top benefits of effective workplace safety and health programs were increased productivity, reduced cost, retention, and increased satisfaction among employees.
Return on Investment in Workplace Safety and Health
- Building a Safety Culture: Improving Safety and Health Management in the Construction Industry. Dodge Data and Analytics, CPWR, and United Rentals, (2016). Includes a section on the impact of safety practices and programs on business factors, such as budget, schedule, return on investment, and injury rates.
- Business of Safety Committee. American Society of Safety Engineers (ASSE). This committee gathers data, prepares documents, and is a source of professional information on ASSE’s efforts to show that investment in safety, health, and the environment is a sound business strategy. This page includes links to a variety of resources on the return on safety investment.
- The ROI of EHS: Practical Strategies to Demonstrate the Business Value of Environmental, Health, and Safety Functions (PDF). Business and Labor Reports, (2006). Reviews strategies to help EHS professionals demonstrate the value of their programs to executive management.
- White Paper on Return on Safety Investment. American Society of Safety Engineers (ASSE), (June 2002). Concludes that there is a direct, positive correlation between investment in safety, health, and the environment and its subsequent return on investment.
- Return on Investment. American Society of Safety Engineers (ASSE). Provides information on the return on investment in workplace safety and health.
- Demonstrating the Business Value of Industrial Hygiene (PDF). American Industrial Hygiene Association (AIHA), (May 2008). Provides guidance on how industrial hygienists can show that they provide organizations with competitive business advantages.
- Construction Solutions Return on Investment Calculator. CPWR – The Center for Construction Research and Training. Helps evaluate the financial impact of new equipment, materials, or work practices introduced to improve safety.
- Safety Grant Best Practices. Ohio Bureau of Workers’ Compensation Safety Grants Intervention Program. Case studies on the effectiveness of investment in safety equipment, including reduced incident rates and return on investment information.
- Anthony Veltri, Mark Pagell, Michael Behm, and Ajay Das. “A Data-Based Evaluation of the Relationship Between Occupational Safety and Operating Performance” (PDF) Journal of SH&E Research Vol.4, No. 1 (Spring 2007). Results of study of 19 manufacturing firms supports theory that good safety performance is related to good operating performance.
- R. Fabius, RD Thayer, DL Konicki, et al, “The link between workforce health and safety and the health of the bottom line: tracking market performance of companies that nurture a “culture of health.” Journal of Occupational and Environmental Medicine, Vol. 55, No. 9 (2013), pp. 993-1000. Companies that build a culture of health by focusing on the well-being and safety of their workforce may yield greater value for their investors. See Abstract and Press Release.
Tools for Calculating Economic Benefits of Workplace Safety and Health
- $afety Pays. OSHA. Interactive software that assists employers in assessing the impact of occupational injuries and illnesses on their profitability. It uses a company’s profit margin, the average costs of an injury or illness, and an indirect cost multiplier to project the amount of sales a company would need to generate to cover those costs.
- Safety Pays in Mining. National Institute for Occupational Safety and Health (NIOSH). Estimates the total costs of workplace injuries to a company in the mining industry and the impact of profitability.
Michael Behm, Anthony Veltri, and Ilene Kleinsorge. “The Cost of Safety: Cost analysis model helps build business case for safety.” Professional Safety (April 2004). Presents a cost analysis model that can help safety, health, and environmental professionals measure, analyze, and communicate safety strategies in business terms.
“Proceedings From the Economic Evaluation of Health and Safety Interventions at the Company Level Conference.” Journal of Safety Research Vol. 36, No. 3(2005), pages 207-308. These articles describe several tools currently used by companies to evaluate the economic impact of safety and health interventions.
Susan Jervis and Terry R. Collins. “Measuring Safety’s Return on Investment.” Professional Safety (September 2001). To address the challenge of maintaining effective safety programs in the face of cutbacks, the authors discuss a decision tool to help safety managers determine which program elements offer the best return on investment.
Impact of OSHA Inspections
- D. Levine, M. Toffel, and M. Johnson, “Randomized Government Safety Inspections Reduce Worker Injuries with No Detectable Job Loss.” Science, Vol. 336, No. 6083, pp. 907-911 (May 18, 2012). A 2012 study concluded that inspections conducted by California’s Division of Occupational Safety and Health (Cal/OSHA) reduce injuries with no job loss. The study showed a 9.4% drop in injury claims and a 26% average savings on workers’ compensation costs in the four years after a Cal/OSHA inspection compared to a similar set of uninspected workplaces. On average, inspected firms saved an estimated $355,000 in injury claims and compensation paid for lost work over that period. There was no evidence that these improvements came at the expense of employment, sales, credit rating, or firm survival. See Abstract and Press Release.
- A.M. Haviland, R.M. Burns, W.B. Gray, T. Ruder, J. Mendeloff, “A new estimate of the impact of OSHA inspections on manufacturing injury rates, 1998-2005,” American Journal of Industrial Medicine, (May 7, 2012). Found that OSHA inspections with penalties of Pennsylvania manufacturing facilities reduced injuries by an average of 19-24% annually in the two years following the inspection. These effects were not found in workplaces with fewer than 20 or more than 250 employees or for inspections without penalties. See Abstract.
- M. Foley, Z.J. Fan, E. Rauser, B. Silverstein, “The impact of regulatory enforcement and consultation visits on workers’ compensation incidence rates and costs, 1999-2008.” American Journal of Industrial Medicine, (June 19, 2012). Reviewed changes in workers’ compensation claims rates and costs for Washington state employers having either an inspection, with or without a citation, or an On-site Consultation Program visit. The study concluded that enforcement activities were associated with a significant drop in claims incidence rates and costs and that similar results may also be attributable to Consultation visits. See Abstract.
Making the Business Case for Process Safety Management
- Business Case for Process Safety. American Institute of Chemical Engineers, Center for Chemical Process Safety (CCPS). CCPS developed a brochure and presentation to help companies demonstrate the business case for process safety management.
Relationship Between Injury Rates and Survival of Small Businesses
- Theresa Holizki, Larry Nelson, and Rose McDonald. “Injury Rates as an Indicator of Business Success.” Industrial Health Vol. 44(2006), pages 166-168. Study of new small businesses that registered with the Workers’ Compensation Board of British Columbia. A statistical correlation was found between workplace safety and health and the survival of a small business. Businesses that failed within one to two years of start-up had an average injury rate of 9.71 while businesses that survived more than five years had an average injury rate of 3.89 in their first year of business.
Learn more about Tri-Lift NC, Inc. and our Forklift Operator Safety programs. Safety and training are the keys to productivity, efficiency and improving the bottom line. Find out why Tri-Lift NC, Inc. is your One Reliable Source for materials handling equipment, service, parts and rentals.
Posted: September 14, 2017 Filed under: Equipment, news, Uncategorized | Tags: charlotte, greensboro, Linde Forklifts, New Cushion Forklift, new forklift, New IC Forklift, New Pneumatic Forklift, raleigh
Linde by KION has announced it is adding two new internal combustion models to its line-up to compete with mainstream market model forklifts. The strategy is to provide the Linde quality that Linde customers expect, at mid-level pricing. By replacing the hydrostatic drive with a more conventional, but still massive differential, torque coverter type transmission, and a Ford 2.5L fuel injected engine, Linde can provide the type of quality that is synonymous with Linde products, at a lower price point.
This is exciting news as Linde forklifts traditionally have been reserved for those companies that have the highest duty cycle and harshest operations. But now, Linde forklifts will be more widely accessible for the mainstream forklift market.
The two new models are the 1219, pneumatic tire, LP and the 1319, cushion tire, LP. Both models come in 5,000, 5,500lb, 6,000lb. and 6,500lb. capacities. We are very excited about the opportunity to present these forklifts to our markets and we know that once Baltimore and Southern Pennsylvania get a look at these models and a quote from us, they’re going to be a big hit!
See the specs for the 1219 pneumatic tire forklift and the 1319 cushion tire forklift, then contact us at 866-393-9833 for a quote or more information.
Learn more about Tri-Lift NC, North Carolina and Northern South Carolina’s source for material handling equipment, service, parts, rentals and training.
Posted: August 28, 2017 Filed under: Forklift Safety, news, Regulatory, Uncategorized | Tags: charlotte, employee health, employee safety, Forklift Operator Training, forklift safety, greensboro, osha, raleigh, warehouse safety
A report generated by OSHA highlights the real costs associated with on the job injuries, who pays them and how this impacts the employee and taxpayers.
Whether an employee is working on a high-rise building or driving a forklift, employers have the responsibility, and what we feel is an obligation to protect their employees from injury. By investing in training and safety, employers get fewer injuries, lower costs, more productivity and an improved satisfaction which often leads to less turn over. But all companies do not feel that way. Many are finding ways to avoid responsibility for providing safe working conditions for their most dangerous jobs.
The report highlights what some companies do to avoid responsibility and what this does to not only the employee, but his/her family and taxpayers when an accident with injury occurs. Shifting the financial burden however does not make it go away. It shifts it to over-burdened worker’s compensation and government systems. In addition, a worker who is injured can expect to make an average of 15% less income after the injury. And while the creating of OSHA in 1970 by President Nixon has greatly reduced on the job accidents, injuries and deaths dramatically, we still have approximately 4,500 deaths every year due to workplace accidents.
As a full-service forklift dealership, safety is one of our most important topics. Forklifts are dangerous pieces of equipment for the operator and anyone working around the forklift. While manufacturers work hard to innovate and make them safer, nothing can replace a well trained and cautious operator.
Report – The Cost of Not Protecting Workers
Learn More About Our Forklift Operator Training
Posted: June 23, 2017 Filed under: Forklift Safety, Information and News, Uncategorized | Tags: Aerial Lift Parts, charlotte, Columbia, forklift parts, greensboro, Greenville, north carolina, raleigh, South Carolina
Whether you have one, 20 year old internal combustion forklift, or a fleet of brand new electric forklifts, you can count on the professionals at Tri-Lift NC, Inc. to find the right part for your operational needs, regardless of the year, make or model of your forklift.
Our forklift and aerial lift parts specialists have the experience to know what questions to ask to ensure you’re getting the right part for your need, whether you know your need or not. Often times, OEM parts are required to maintain factory warranty, other times, aftermarket or remanufactured/refurbished forklift parts are just fine. We will work with you to source the parts you need, at the price you want.
And there are few companies that make the financial investment to inventory as many popular parts as Tri-Lift NC, Inc. From our branches in Greensboro, Raleigh, Charlotte, Columbia and Greenville, we source parts for thousands of companies all over North Carolina and South Carolina.
Learn more about our forklift parts capabilities, then contact your local Tri-Lift NC, Inc. facility to get a quote, or place your order. We want to be your One Reliable Source for all your materials handling equipment, service, parts and rental needs.
Posted: May 25, 2017 Filed under: Employee Safety, Forklift Safety, Uncategorized | Tags: charlotte, employee safety, forklift maintenance, Forklift Operator Training, forklift safety, Forklift Safety Day 2017, forklift service, greensboro, raleigh, warehouse safety
The Industrial Truck Association has announced it’s second annual Forklift Safety Day, to be held June Tuesday, June 13. There are things you can do to take advantage of this day to help create awareness about the dangers that forklifts present and how to minimize the potential for accidents that can result in injury or death, damage to your facility, equipment and financial losses. We’ve compiled a short list of things you can do on June 9th to improve safety on and around your forklifts.
- Make sure all your forklift operators have been trained and that their refresher training is up to date, if applicable or necessary.
- Take time to teach your forklift operators the importance of daily inspections of their forklifts. Daily inspections reduce the risk of equipment failure and catch small problems before they blossom into giant ones. You can download daily forklift inspection sheets for both IC forklifts and electric forklifts.
- Download and post our free forklift safety posters for:
- Pedestrian Notification
- Notice that Forklifts are in Operation
- That Only Trained Employees May Operate Forklifts
- Take some time to gather any staff that operates around forklifts, but not on them, to refresh them about the dangers of this equipment and how to be sure to use safe procedures when they are in an area of your facility where forklifts are being operated.
- Make sure all your forklift’s maintenance is up to date. If you have a Planned Maintenance Agreement, this would be a good time to review it with your service provider to ensure all standard checkpoints as well as unique equipment attachments are being inspected and maintained properly.
- Review any unique “site specific” features your facility may have and be sure your operators are aware of proper handling of equipment while on or around these features (ramps, areas where floors can be slick, floor substrates that vary etc…)
- Make sure that training is part of your company’s orientation for anyone that will or MIGHT operate a forklift. Remember, employees that have not been properly trained aren’t even allowed to sit on and start a forklift, much less move it out of the way of anything.
- Make sure you forklifts have proper safety equipment and that it’s operating properly. Lights, horns, back-up alarms, seat belts, fire extinguishers etc… Improve pedestrian safety, check out our Blue Spot Safety Light by Linde.
- Make sure you have lock-out kits to ensure that forklifts that do not pass an inspection are locked out immediately until repairs are made.
- Review all your forklifts for possible replacement. Old forklifts, or those that are getting “up there” in hours, might be potential threats. Review safety records and maintenance logs for your equipment. You might find this could be a good time to replace some or even all of your forklifts.-
Our goal is to help you operate safe, efficient and productive forklift equipment. To discuss forklift safety, operator training –or to get a quote on new equipment, please give us a call at 866-393-9833.