When to Take Advantage of Your End-of-Year Tax Break on Construction Equipment

At Synergy Equipment, we are dedicated to ensuring that each of our customers gets the equipment they need, when they need it. Over the past year, the entire industry, and many others, have been experiencing delays due to a shortage of microchips and valves. Here’s everything you need to know about taking advantage of your end-of-year tax break:

When to Secure Your New Equipment

As many of our customers are starting to look into buying new equipment to take advantage of their end-of-year tax break, it’s important to understand that this year is different from past years. Due to the supply chain disruptions that many equipment manufacturers have experienced this past year, lead times on new equipment keep expanding. Meaning, that taking advantage of your tax breaks this year will require purchasing your equipment as early as possible. We recommend an 8 week or longer lead time on any new equipment purchases this year. 

Getting Your End-of-Year Tax Break

The supply chain disruptions have been affecting everything from microchips to valves, causing equipment manufacturers to reduce the amount of equipment they are able to produce. We have had to extend our lead times on some pieces of equipment to 8 weeks or longer. To ensure that you are able to get your tax break, it’s crucial to start planning your purchase now. Our team is always here to help ensure that we get your equipment as quickly as possible. 

About the Supply Chain Disruptions

While the microchip shortage has been affecting U.S.-based manufacturers greatly, this is a global problem. Companies around the world are struggling to meet the demand for products. Lead times on certain chips can be as long as 12-months, while others may be shorter. Without the chips that manufacturers need, it is nearly impossible to meet demand on certain products. 

No matter how you choose to take advantage of your end-of-year tax break on new construction equipment, our team is here to guide you through the process. We are able to meet demand on most of our products quickly, so contact our team to learn more about which of our products are affected by the supply chain disruptions. Want to learn more about buying new construction equipment with Synergy Equipment? Check out our blog today!

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