As the end of the year approaches, many business owners are looking for smart ways to manage their tax burdens while investing in their company’s future. For professionals in the sign, graphics and garment industries, Grimco’s wide range of equipment solutions offers the perfect opportunity to benefit from Section 179 tax savings while upgrading your business capabilities. From grand format printers to screen printing equipment and everything in between, we’re here to help you maximize your return on investment (ROI).
Why Section 179 Matters
Section 179 of the U.S. tax code allows businesses to deduct the full purchase price of qualifying equipment and software purchased or financed during the tax year. This means you can lower your taxable income significantly by investing in the tools your business needs. Here are some key benefits:
1. Generous Monetary Limits with Section 179
As of 2024, the Section 179 deduction limit is $1,220,000, with a spending cap of $3,050,000. This means most of the equipment you buy from Grimco—whether it’s an HP Latex printer, an Epson SureColor printer, or a ROQ YOU screen print machine, and every accessory piece of equipment in between—will likely qualify for full deduction. Investing in larger, high-cost equipment becomes more manageable when you can deduct the full cost in the year of purchase.
2. Section 179 Gives Bonus Depreciation for Extra Savings
If your equipment purchases exceed the Section 179 spending cap, you can still take advantage of bonus depreciation. For 2024, this allows you to deduct an additional 60% of the equipment cost, further reducing your tax liability. This is especially useful for customers purchasing entire workflows, including printers, heat presses, laminators, routers, and other accessory equipment.
3. Save Real Money on Your Bottom Line with Section 179
By leveraging these tax incentives, you can effectively reduce the cost of your equipment investment. For example, an $80,000+ flatbed printer could cost much less after factoring in Section 179 deductions and bonus depreciation. This means more cash in your pocket to reinvest in your business, hire staff, or expand your operations.
How Grimco Helps You Invest Wisely
At Grimco, we understand that buying equipment is a costly investment. That’s why we’re committed to helping our customers get the biggest ROI through:
• Top-of-the-Line Equipment for Your Business
We offer industry-leading solutions, including grand format printers, garment decoration machines, and screen-printing equipment from top brands like HP, Epson, ROQ, Kongsberg, Summa, Graphtec and more. Our products are designed to improve your workflow and deliver exceptional quality, helping you stay ahead of the competition.
• Accessory Equipment for Maximum Efficiency
Enhance your workflow with laminators, cutters, routers, dryers and other accessories. These tools not only streamline your production process but also qualify for tax deductions, further amplifying your savings.
• Expert Guidance from Grimco
Our Equipment & Software team is here to answer your questions and guide you through the buying process. Whether you’re choosing between equipment models or exploring financing options, we’ll help you make the best decision for your business. Additionally, we offer live demos—either in person or virtually—so you can see our equipment and software in action at our strategically located demo center in Chicago. Customers can request samples, attend trainings, and join events as well.
For ongoing support, we provide Tech Support through multiple channels, including a Live Chat feature to connect with equipment specialists, an Equipment Support Hub with self-help articles and videos, and a ticketing system for more complex inquiries. Customers can include detailed descriptions and photos to get tailored assistance.
Equipment Financing Made Simple
If you’re looking to finance your equipment purchase, Grimco partners with CIT to offer quick and easy financing solutions. Financing makes it easier to upgrade your business technology while maintaining cash flow. Plus, you can still take full advantage of Section 179 deductions for financed equipment. Click here for a quick and easy application.
Act Now to Maximize Your Savings
To take advantage of Section 179 for your current tax season, your equipment must be purchased and financed by December 31st of the fiscal year (Jan 1–Dec 31). Don’t wait until the last minute! Now is the perfect time to invest in your business with Grimco’s wide range of equipment and accessories.
For more information or assistance, call Grimco’s Equipment & Software team at 800-542-9941 or visit Grimco's Equipment & Software Tech Support page. Let’s work together to help your business grow while saving you money!
