When it comes to sales you don't need to be an accountant, one of the biggest mistakes that salespeople make is thinking that they need to know everything about everything. The sales role is largely a point guard role. You don't need to know everything you just need to know the resources to point your client in the right direction. With two months remaining in the year having section 179 as an arrow in your quiver could mean the difference between closing a sale in 2020 or letting it linger into somewhere beyond 2021.
So how do I start the conversation about section 179?
When it comes to deals that are sitting there in our pipeline just stuck without any movement, any reason to reach out and discuss how we can progress that deal further down the pipeline is a good thing. Asking your client or potential client if they have looked into the potential benefits of section 179 by making a purchase this year is a great way to continue the conversation.
Think about all that your customers are thinking about right now in 2020. We have all had to navigate the very strange world in ways that we couldn't comprehend remote working, IT, The Paycheck Protection Program, how to keep our employees safe and so much more. All things considered, It is very possible that section 179 is not top of mind for your customer. Even if they have taken advantage of it in the past it could have slipped their mind with everything going on. Bringing this to their attention can only have positive ramifications in your conversations with your customers.
Who Doesn’t Love A Bonus? Section 179 Bonus Depreciation For 2020
Section 179 always has a standard deduction. In 2020 the bonus depreciation allows for a 100% deduction of the cost of the equipment. This is an acceleration of the tax savings for any purchase up to $1,040,000. Being able to calculate the exact impact on the purchase is easy when you have tools like our Section 179 Calculator. Just put in the tax bracket and equipment cost and you can see how this will affect the aggregate cost of the equipment.
We all know that nothing is guaranteed in the future, especially when it comes to the tax code. Positioning the bonus depreciation with a sense of urgency can be beneficial to help close more business in 2020. Having marketing materials and collateral both in print and online is a good way to pique interest and curiosity for your products.
How Has Covid-19 Impacted Section 179
If you have applied for the Paycheck Protection Program or received any assistance during the pandemic your ability to capitalize on the benefits of section 179 is not affected. Hopefully, your customers have taken advantage of those programs and funding available to them. Just like those programs, having a general knowledge of Section 179 is all that is needed to be a valuable resource.
Closing 2020 Strong With Amur & Section 179
Having the right financing partner in place, with all of the tools, knowledge, and grit to deliver an exceptional experience can be the catalyst for closing the year strong. At Amur, we have the tools, programs, and most of all the people to accelerate your sales process. If you haven’t spoken with us about a program as unique as your business, let’s change that! Contact us today to see why our partners are Equipped To Win and finish 2020 strong!