The Equipment Financing Trade Deadline

By | October 25, 2017

Year-End Equipment FinancingI was recently watching the baseball playoffs, and as I was watching, a thought popped into my head that related to equipment financing. I actually said out loud “oh… cool” and my wife said “what?”, but I didn’t answer as I sat there still thinking and arranging this thought. She rolled her eyes and said “equipment financing again, right?” I nodded. She knows me well.

Here’s what popped into my head. One of the announcers was talking about particular moves teams made at the trade deadline – acquiring the pieces (meaning players) to put them over the top. They were mentioning that by midseason, a team has an idea where it’s going and how good it is, and most become either buyers or sellers of players. So when teams are going well, the thought is you take on MORE to put you over the top.

And that’s where equipment financing popped in. This is because 2017 has been pretty good for many companies, and indeed, for equipment financing as well. So companies recognized that when things are going well (or even going average), bringing on more equipment is a solid move for the future. No time like the present and all.

Now, there really isn’t a deadline in equipment financing (maybe a small one – we’ll talk about that in a second), but I will say that when things are going well, it’s always a good move to look at expanding and/or upgrading your capabilities. It’s a good move to do it when things are going poorly too, but sometimes it can be harder to pull the trigger in slower times. But when things are going well, you should be acting like a top baseball team at the trade deadline – looking to acquire a piece or two to ensure a lengthy pennant run. Have you done so this year? If not, you still have time.

And let’s not forget the one deadline that does exist – the Section 179 deadline. Buy or finance that new (or new to you) equipment and get it in service by 12/31, and take a Section 179 deduction for this year.

Batter up, baby!!

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