What is Section 179? Is Section 179 Important for you to know about in 2017?
Read about important information you need to know about Section 179 for 2017 and how it applies to your business in this post from Quantum Machinery Group.
Great news for machinery buyers: Section 179 of the U.S. Internal Revenue Code has been restored to $500,000 for 2017.
In a nutshell:
- Businesses can deduct up to $500,000 from their taxes on up to $2 million in qualifying equipment purchases.
- All purchases, financing, delivery and set-up must be complete before midnight on 12/31/2017 for both equipment and software.
- A bonus depreciation is in place for all businesses who have purchased over $2 million in equipment. They can depreciate 50% of the cost of the equipment they purchase and put into production from 2015 through 2017. (This bonus depreciation reduces to 40% in 2018 and to 30% in 2019.)
This is great news if youβve been thinking about purchasing new machine tools for your business. But this deduction only applies to machines ordered and delivered by December 31st, so you must act quickly to take advantage of these savings.
The following examples help explain how all this works:
Example of Section 179 Deduction
In this first example, you can see a detailed overview of your savings if you take advantage of the Section 179 tax break. If you purchase $250,000 in equipment, you can earn $87,500 in savings, decreasing the total amount you spend to $162,500.
- Cost of Equipment: $250,000.00
- Section 179 Deduction: $250,000.00
- Total First Year Deduction: $250,000.00
- Cost of Savings on Equipment Purchase: $87,500.00
- Lowered Cost of Equipment After Tax Savings: $162,500.00
Example of Bonus Depreciation
In this second example, you are shown a detailed overview of the bonus savings should you spend over $2 million on equipment and be eligible for bonus depreciation.
- Cost of Equipment: $2,500,000.00
- Section 179 Deduction: $500,000.00
- 50% Bonus Depreciation Deduction: $1,000,000.00
- Regular First Year Depreciation: $200,000.00
- Total First Year Deduction: $1,700,000.00
- Cost of Savings on Equipment Purchase: $595,000.00
- Lowered Cost of Equipment After Tax Savings: $1,905,000.00
Quantum Machinery Group has a full inventory of Plate Rolls, Cold Saws, Band Saws, Press Brakes, Shears, Angle Rolls, Lasers, Welding Tables, Roll Benders, Ornamental Working Machinery and other equipment ready for immediate delivery.
Ready to move on your next machinery purchase? Call one of our machinery specialists today for a quote. *Flexable Financing Available!* (909) 476-8007 / Sales@QuantumMachinery.com
Understanding the Benefits of Quantum Machinery Arc Meters
One of the most frustrating parts of metalworking is taking the precise measurements needed to make sure everything is exactly the right size. Sometimes, less than a millimeterβs difference can mean getting the job done right or having to do it all over again.
Metalworking machinery can work wonders when it comes to making metalbending and metalworking jobs easier, giving you the ability to take incredibly precise measurements that the pieces you manufacture will be exactly the right size from the first cut to the last.
In particular, Quantum Machinery Groupβs line of arc meters provide users with a whole series of benefits and abilities that make them a must-have for any serious metalworker. Below, we discuss everything that sets the arc meters available through Quantum Machinery apart.
Instant Measurements
Quantum Machineryβs arc meters are high-end metalworking instruments that give users the power to get an immediate (and accurate) direct reading of the radii of any section of their current application.
Measure External and Interior Radii
One of the premier features of arc meters is that it allows users to measure both the external and interior radii within a section. Instead of taking the measurement of one radius and then determining the other through the use of a mathematical formula or looking up the information on a cross-reference chart (which opens the door for human error and the delays such errors cause), users of Quantum Machineryβs arc meters can determine the radius of both the interior and exterior of a section, giving them absolutely precise measurements without any additional work or calculation.
Measure in Different Units
Arc meters can be used to measure in both millimeters and inches. Instead of having to switch between tools sized to different systems of measurement, arc meter users can use the same device to take the measurements they need and record them in the scale they are currently using. Itβs easy to switch between measuring systems, meaning users will be able to quickly and easily take measurements for multiple applications, speeding up the time it takes to complete their projects considerably.
Duplicate Arches with Easy
Perhaps the most impressive feat Quantum Machineryβs arc meters are capable of is giving users the ability to duplicate arcs that have already been measured. Once an arc meter has been used to take the measurements of an arc, that information can be used to make as many duplicates as is necessary to complete the task at hand. Quantum Machineryβs selection of arc meters gives users the ability to measure and create metal arcs with machine precision, ensuring that their metalworking projects will succeed.
Want to learn more about how Quantum Machinery arc meters can aid in metal fabrication? Contact Quantum Machinery Group today at www.quantummachinerygroup.com to speak with one of our customer service representatives or to request more information on our products, including the arc meter. If you have questions about whether an arc meter is the right tool for you, weβll be happy to answer them!
Gas Forge Furnace Safety Tips
When it comes to molding steel parts for manufacture, nothing provides the necessary intense heat and metal bending capability like an industrial gas forge. Used by blacksmiths and other steelworkers to produce a variety of functional and ornamental shapes, modern gas forge furnaces are easier to use and significantly more efficient than their ancient counterparts.
Although the gas forge furnace has become a much safer tool, thanks to improvements in engineering over time, there are still a number of potential dangers that require great care and proper training to avoid. The following safety tips can help you operate your gas forge properly and prevent unnecessary accidents and injuries.
Safe Use of Gas Forge Furnaces
When using metalworking machinery in any capacity, safety is of the utmost importance. Always employ the following gas forge safety tips to reduce risk and actively prevent industrial accidents.
- Make sure that everyone who will use the forge is educated in furnace use and chemical nature of propane.
Education is the best prevention. Only experienced metal bending professionals who have been trained in safely using the forge and managing the propane tanks should be cleared to use the machine. Be sure that all users are aware of the basic chemical nature of propane and understand its unique risks and storage requirements.
- Never walk away from a hot forge.
Your gas furnace should always be monitored while in use. Always make sure that at least one person who is cleared to use the forge is present when the forge is hot, even if the fuel line has been shut off.
- Keep flammable items out of the forge area.
Even the tiniest spark from your gas furnace can lead to a fire, especially if you store flammable items in the same room with the forge. Keep wood, fabric, cleaning supplies, and other common flammable items away from the forge area, and be sure to keep a chemical fire extinguisher on hand in case of an emergency.
- Regularly inspect your gas forge furnace and propane cylinders for damage or wear.
Prevent breakdowns and keep your forge in optimal shape by scheduling regular inspections and performing any necessary maintenance. Make sure that only sufficiently knowledgeable individuals perform this inspection and maintenance. Any significant damage could lead to risky malfunctions, and any buildup of dirt or dust could combust without warning.
Trust the Safety and Efficiency of the Quantum Nargesa H1, H2 and H3 Furnace
The Quantum Nargesa H2 furnace is a propane-powered gas forge ideal for heating and reshaping steel parts. Featuring two independently-functioning burners, a working temperature of 1300ΒΊ C, adjustable pressure, and much more, our industrial H2 propane forge has the power and flexibility needed to create high-quality molded steel products.
Safety features include a pressure reducer, flame check valve, thermal device valve, metal safety screen, easily replaced standard components, a fully mounted design, and careful packaging to prevent damage during shipping.
Whether you're an independent blacksmith or a large manufacturing company, trust the quality gas forge furnace products from Quantum Machinery Group. To learn more about the Quantum Nargesa H2 furnace or any of our other metalworking machinery, browse the products on our website or call us at (909) 476-8007.
Everything You Need to Know About Power Hammers
Do a brief search on YouTube for the words βhydraulic press.β You will quickly discover that, strangely, society seems rather obsessed with watching presses smush everything from pencils to even diamonds. Those of us in industry know thatβs because itβs easy to marvel at the sheer force hydraulics provideβthis metalworking machinery is simply impressive to watch and use.
For as much power as a hydraulic press exudes, it simply isnβt always the best tool for the job. Primarily, itβs slower, and that can slow a shop down so much that itβs no longer efficient. Instead, many shops use high-impact, high-pressure power hammers. Both devices operate on the same technological basis, but there are differences.
Power Hammer Basics
What the heck is a power hammer, anyway? This technology isnβt new; in fact, it harkens back throughout human history much further than even the hydraulic press. The original power hammer was often called a forge hammer, and it relied on steam to build pressure and propel the device, but todayβs versions use pneumatics or electricity instead.
How a power hammer operates is simple: Like a hammer, it quickly travels downward when force is applied on the opposite side, striking whatever object you place under it. Because they use some form of pressure that builds up force first, the strike occurs much faster and with far more force than if you were using a hand hammer or even a hydraulic press.
Power hammers are also very large in size when compared to other equipment. The more force you need, the larger the machinery, and advanced models may take up as much as four cubic feet of space in your shop or more.
These larger machines also produce smoother, more equalized results because the sheer mass of the device absorbs vibration and movements through weight. Thatβs a boon for operators and the projects they completeβsize improves comfort and outcomes all around. You can expect one of these larger machines to weigh up to 12,000 pounds.
Training and Safe Use
As with any other piece of industrial equipment, no worker should have access to a power hammer without proper training. The most common accidents relate to negligenceβgetting hands in the way of the hammer, wearing loose clothing that becomes caught in the machine, or being hit with flying debris (especially in the eyes). Much like a hand hammer, hitting your fingers will result in injury (and likely finger loss, too). Thatβs what makes having a safety protocol so important.
Itβs also common for workshops to experience too much vibration or movement, even in larger devices. As any equipment company will tell you, the machine can only work correctly if you use it correctly in the first place. If you find your large-scale power hammer is uncomfortable to use with a high amount of recoil, it may be that itβs off-center or that you arenβt placing your dies and pieces in the right zone. Occasional calibration is the best way to keep everyone safe.
Where you place the material isnβt the only consideration; each project will demand a precise amount of pressure and material movement, too. Often, itβs best to run a test prototype before nailing down these numbers, adjusting the rate of fire as you go. Most brands and machines will provide average numbers for common projects within the manual.
If these warnings seem rather doom and gloom, donβt feel too stressed outβtruthfully, power hammers are remarkably safe when used correctly. If you follow a proper safety protocol, they may even be more safe than handheld devices! Whether youβre using your power hammer for metalbending or something else entirely, itβs just a fantastic device to have around. If youβre considering a power hammer for your shop, give us a call at Quantum Machinery Groupβwe can help you explore your options!
Maintaining Strong Growth in the Manufacturing Industry
Improvements and innovations in technology have been a significant driving force for many industries. Many businesses today fail because of an inability to keep up with the times. The manufacturing industry heavily relies on getting the most productivity out of the least amount of resources possible, especially when it comes to metalworking machinery and metal bending. How much a production business embraces the advancements in technology and education plays a large part in determining their success.
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Intelligent Use of Analytics
The manufacturing industry has held the same business model for a long time: selling a single complicated and intricate product to a customer with warranty and a service contract for repairs and maintenance. Itβs worked for a long time, but itβs become less feasible over time due to changes in technology and real-time data flow.
Many manufacturing companies are moving toward an updated version of this business model to keep with the times. Selling a single piece of complicated machinery is still viable, though many customers want more from their purchase than just a user manual and repair options a phone call away.
New technology and apps enable manufacturers to integrate real-time updating software and components into their products. They use this information to work with their clients daily to tweak performance levels to their needs and know when the product requires maintenance.
Manufacturers that actively work with their clients to optimize the product will see a greater return on their investments. Building customer loyalty and retention opens up opportunities for more lucrative ventures down the road.
Educate Your Workers
Educated employees are always a valued asset for any business, and their worth has only increased with time. Itβs imperative that contemporary manufacturing workers are knowledgeable about current trends in technology. Hiring more workers used to be a more feasible solution in the past, but finding employees that know what theyβre doing is more crucial now than when manufacturing was in its adolescence.
STEM education is one of the keys to satisfying this need for smart workers. Ensure that your workers have the training and knowledge they need, whether youβre hiring fresh college graduates or providing supplemental education for your current workforce.
Operational Data Is Your Gold Mine
Improving efficiency is the name of the game in the current state of modern manufacturing. Creating more efficient production lines or methods is always beneficial, but maybe youβre hitting a brick wall. Maybe the cost of re-doing your infrastructure is too expensive or requires more research and development. Many manufacturers are facing these challenges, so theyβre looking to squeeze every ounce of productivity out of what they have now.
Keep tabs on the operational data of your machines and devices to learn how to get the most out of them. Improving your efficiency by a few percent makes a big difference whether youβre mass producing or focusing on a single item. Your competitors are doing the same thing, so investing into advanced data collection technology is a great way to stay with, or ahead of, the curve. Quantum Machinery Group understands how to implement high-tech solutions to exceed your business standards. Our experienced staff and machinery can help you push your company ahead of the rest and bring innovation to your metalworking machinery.