It happens every year around this time – the season for end-of-year tax deductions. The Section 179 tax rule gives businesses an opportunity to write off as much as $500,000 in new and used equipment costs. Equipment or software purchased and put into service by December 31st is deducted from your business’s gross income – it’s as simple as that. And depreciation boosts the total tax reduction even more.
The tax experts at Section179.org provide in-depth information on this valuable tax strategy, and the calculator from Crest Capital shows the savings.
The key phrase in Section 179 is “put into service.” With only a month left in 2016, many kinds of business equipment simply can’t be delivered and put into service before the end of the year. The good news: There’s a wide variety of high density storage, RFID systems, and modular furnishings on a quick-order program. Talk to your tax advisor, then talk to your local storage professional to find out which new and efficient storage systems can help your business qualify for this attractive deduction. Don’t waste a minute!
We all know the old saying: “Failure to plan is planning to fail.” When you’re getting ready to invest in new lab space, the failure to plan can turn into expensive cost overruns.
A good checklist is a vital planning aid. Lab Design News has developed a space planning checklist to help determine your spatial requirements, including:
Current and future headcounts
Existing equipment inventory and future purchases
Venting and mechanical needs
Clean room requirements
Another way to guard against planning failures is to build flexibility into your space plan. Modular casework is a highly effective hedge against unanticipated demands on lab space. These cabinets can be reconfigured in dozens of ways, saving the cost of expensive new casework. This video demonstrates how one institution used modular casework to adapt to new space plans.
Plan ahead, avoid costly surprises, and talk to a storage specialist about maximizing flexibility in your casework design.
As science and technology advance, research facilities are having to decide how they will adapt – do they have the built-in flexibility to modify their laboratories, or will they have to do a top-to-bottom redesign? Writing in Lab Design News, Jeffrey R. Zynda, describes a “next generation” laboratory, one that is reconfigurable to meet the increasing need for computational research, as well as promoting the well-being of researchers themselves through social, collaborative environments.
A flexibility plan is essential to an effective next-gen lab. Reconfigurable casework and movable benches are a good step toward flexibility, as Greg Muth discusses in “Flexibility – It Takes A Plan.” Without good planning, however, the flexibility rarely lives up to the expectations.
Muth notes that a good flexibility plan defines who modifies the space – the users, the maintenance staff, or an outside vendor – and how long the modifications will take. He points to the example of Genentech, who developed “SWAT teams” of contractors who know the casework systems well and can make frequent modifications quickly and easily.
Creating a sound plan with the assistance of a knowledgeable vendor will help next-gen labs maintain their usefulness for years to come.
As the end of the year approaches, the IRS has a little holiday gift for businesses looking for last-minute ways to boost their tax deductions. It’s the Section 179 tax rule, which permits the deduction of the full purchase price of business equipment, up to $25,000. As explained by the tax watchers at Section179.org, this deduction can be a significant business stimulus.
New equipment put into service this year by December 31st can be deducted from your business’s gross income under Section 179. It’s that simple. And everything we provide – high density storage systems, RFID systems, modular furnishings, for example – qualifies for the deduction.
More good news: When you add in depreciation, the total tax reduction is even greater. This calculator from Crest Capital shows the savings. Review your company’s 2015 P&L, check with your tax professional, then give us a call.
Until recently, life sciences labs were “seen one, seen them all.” However, the traditional rows of wet benches have lately been giving way to a new form of laboratory design – the next-generation lab.
In Lab Design News, Jeffrey R. Zynda, principal and academic science practice leader at Perkins+Will, Boston, points to a shift in research demands as the driving force behind next-gen lab design. Genomic sequencing, for example, relies much more on computational research than on hands-on experimental investigation. Further, the ever-growing collaboration between the public sector and the private sector encourages both specialization and flexibility. To meet these twin goals, designers must be mindful of the need for lighting, air handling, and furnishings that can accommodate specialized research while remaining reconfigurable for future projects. Flexibility in turn supports sustainability, another significant consideration in next-generation lab design.
Finally, these new labs promote the well-being of the scientists themselves. Social, collaborative environments will attract the brightest and best of the next-generation researchers, keeping these research facilities at the forefront of science.
When you are making a major business purchase, you might feel like a tourist at a foreign bazaar – too many offers of something you’re not sure you want. What’s a buyer to do?
According to these 12 tips from Renewable Energy Vermont, information is the key to being a better buyer. Have a clearly defined set of goals for the purchase, then do your research to learn about the vendors. Investigate their reputations; ask about their industry expertise, their licenses, or other credentials. Learn about their involvement in professional organizations and the community; find out if they are socially responsible toward their workers and the environment.
Ideally, you’ll find a selection of vendors who can be your partners for the long term – companies that share the same values as your business, who can provide support and advice as well as products and services. There’s more to a vendor than product and price.