These days, we can all use all the help we can get, right? Did you know that the federal government is trying to help you modernize your pool? How?
For many years, a special federal tax program, known as IRS Section 179, has been designed to assist businesses to invest in their operations by providing significant tax breaks for doing so. They even set up a dedicated web site to help explain the program, including all sorts of aids like tax break calculators, IRS tax forms, Q & A, etc.
According to the government website, “…Section 179 of the IRS tax code allows businesses to deduct the full price of qualifying equipment and/or software purchased or financed during the tax year. That means that if you buy or lease a piece of qualifying equipment, you can deduct the FULL PURCHASE PRICE from your gross income. It’s an incentive created by the U.S. government to encourage businesses to buy equipment and invest in themselves.”
How does it work? Easy. Let’s say you want to upgrade your system for any reason, and you want to keep your capital budget for other facility upgrades. You would merely enter in an approved CES-Aquafinity program that would split up the cost of the modernization over two, three, four or five budget years. This is normally done through an approved lease with very little up front money and pretty darn low monthly payments.
But there’s more… many of the modernizations that we have completed over the years provide monthly savings that save more money monthly than they cost on a lease. Shocking, but true. So, customers have invested in a VFD-powered pumping system, a saline system, or an “Activated Filtration System” that saves more than it costs each month. Couple that with the IRS tax savings and you get double the benefits… lay out very little up front money, modernize your equipment room, experience large tax savings in year one, and operate your equipment room for less money every month than what the payments cost.
Sounds too good to be true… in many cases it IS that good.
Here are some examples of some successful programs we have completed:
- Add new type of equipment that helps you meet changes in the Health Codes or best practices
- Install packages that make water better for your patrons
- Make your own chlorine on site for a fraction of delivered chemicals
- Install a fully automated pumping system that provides DOH-required flow at a fraction of typical pumping costs
- Upgrade entire equipment rooms with equipment to provide a more energy efficient system, including savings in Water, Power, Gas, Labor, and Chemicals
What is the next step? Simply contact your Aquafinity rep for a site review. They will put together samples of potential modernizations that might make sense and line you up with a 179-approved program. Then you can use the IRS calculator to verify the benefits, verify with your tax guy, and convert your room and enjoy the savings.
Join the list of CES-Aquafinity customers that have let IRS 179 work for them.
