Category: How To

So, you’ve started up your very own metal fabrication business and are ready to take on the world. If you haven’t done so already, you will soon learn that setting up a fab shop is just the beginning of success in the industry. To be profitable and stand out in a competitive marketplace, it’s important […]

When your financial advisors suggest that you should look at “Section 179,” they are referring to a specialized tax deduction that is spelled out in section 179 of the United States Internal Revenue Code. It allows a business—such as a metal fabrication shop—to take a deduction right away in that year’s taxes for business expenses for “depreciable assets,” specifically those things that a business owns for a limited period that are used to make money. If a fab shop buys a press brake or other piece of metalworking equipment this year and puts it into service, then they can lower this year’s tax liability instead of capitalizing that asset and spreading its depreciation over several future tax years. Purchases of vehicles and other equipment—such as office furniture and computers—and even some software can also be deducted through this tax provision.

The key to understanding a manufacturing blueprint, such as a set of metal fabrication directions, is to know what pieces of information such schematics contain and where they are located.