Forklift ramps are used to enable forklifts move to a higher work area. Forklifts are basically designed to operate on flat surfaces and its dangerous to operate on steep inclines. The ramps enable forklifts to load merchandise directly on trailers and trucks in the absence of permanent loading docks.
The ramps are made from strong non-corrosive metals and are designed to withstand the pressure of a fully loaded forklift. The basic structure consists of an elevated metal platform supported by pillars and metal crossbeams. Some even have mechanical levers to increase or decrease the height of the ramp.
Forklifts are generally small and compact. This makes them vulnerable to tipping over while negotiating an incline. The problem increases when the forklift is loaded to capacity. Ramps provide the required gradual elevation needed by forklifts. Ramps are made from steel or aluminum and are coated with special anti corrosive paint. Generally, steel is preferred as it is cheaper than aluminum. Ramps can either be portable or fixed. A fixed ramp is used where goods are loaded on lorries and trucks. A portable ramp is used for loading on specific medium such as bogies of a goods train.
Ramps have lessened the shortcomings of forklifts. They have reduced the chances of forklifts tipping over. Ramps are available to suit the needs of every type of forklifts. Customized ramps are also available for specific needs of the customer. These ramps are usually maintenance free, easy to use and portable.
Forklift ramp designs are constantly being reinvented to suit the needs of different industries like warehousing, manufacturing, construction and others. Due to the rise in sale of forklifts, the demand for these ramps is also expected to increase in the near future. This is good for the forklift ramp manufacturing industry.
Raymond Handling Solutions, Inc, 10261 Matern Place, Santa Fe Springs, CA 90670 - 1-800-NOW-LIFT
FORKLIFTS AND THE "ECONOMIC STIMULUS ACT OF 2008"
- 2008 Economic Stimulus Act: Code Sec. 179 Expense and Bonus Depreciation
- Can make economic sense to acquire an new forklift this year
- There may be a tax advantage
- Can stimulate the US economy
- RAYMOND manufactures in the US and Canada - not China and Mexico
Congress has passed the Economic Stimulus Act of 2008 (2008 Economic Stimulus Act), which increases the limitation on expensing depreciable assets and also provides for 50% bonus depreciation on new equipment for the year it is placed in service. More specifically, the 2008 Economic Stimulus Act provides an increase in the expense deduction limitation under Code Sec. 179 from $128,000 to $250,000 and an increase of the phase-out amount from $510,000 to $800,000.
Because the increased amounts only apply to the 2008 tax year, you may want to plan your new purchases accordingly. The increased expense deduction will revert back to $125,000 (to be indexed for inflation) for qualifying assets after 2008. Further, the $125,000 deduction (as adjusted for inflation) is scheduled to revert back to $25,000 for tax years beginning after 2011. Similarly, in 2009, the phaseout amount, which begins with every dollar spent over $800,000, reverts back to $500,000, as adjusted for inflation. It is scheduled to revert to $200,000 after 2011.
Another temporary change is an increase in the amount of depreciation deductions allowed with respect to luxury passenger automobiles. The limitation is increased in the first year to $8,000. As with the other changes, this change is only for vehicles placed in service in 2008 for the 2008 tax year.
If you have any questions about how this development applies to you, or about any other aspects of this legislation, please contact our office at your convenience.
Kahni M Bizub, CPA, MST
Tax Partner
Wright Ford Young & Co.
16140 Sand Canyon Ave, Second Floor
Irvine, CA 92618
(949) 910-2727
(949) 910-0181 direct fax
WAREHOUSE HANDLING AND STORAGE SOLUTIONS PEOPLE
The information on this page is deemed reliable but its accuracy is not guaranteed. Please contact your tax advisor or accountant for details of the legislation and how it will impact your business.
Why should I purchase an electric forklift versus a LPG (liquid propane gas) forklift?
If your business is involved in working in cold (cold storage or freezers, for example), you must use an electric forklift. An LPG forklift emits gas fumes and heat that will actually raise the level of the temperature in the area in which it is being operated. If, however, you are using your forklift outside where it could possibly rain or snow, LPG is strongly recommended as an electric forklift can short out if it gets wet. In general, an electric forklift is quieter and does not emit fumes, but requires recharging time (which could be substantial, depending on how much it has been used and the voltage of electricity available), while an LPG requires that you get the tank refilled (we recommend that you always have a full spare tank on the premises).
Congress has passed the Economic Stimulus Act of 2008 (2008 Economic Stimulus Act), which increases the limitation on expensing depreciable assets and also provides for 50% bonus depreciation on new equipment for the year it is placed in service. More specifically, the 2008 Economic Stimulus Act provides an increase in the expense deduction limitation under Code Sec. 179 from $128,000 to $250,000 and an increase of the phase-out amount from $510,000 to $800,000.
Because the increased amounts only apply to the 2008 tax year, you may want to plan your new purchases accordingly. The increased expense deduction will revert back to $125,000 (to be indexed for inflation) for qualifying assets after 2008. Further, the $125,000 deduction (as adjusted for inflation) is scheduled to revert back to $25,000 for tax years beginning after 2011. Similarly, in 2009, the phaseout amount, which begins with every dollar spent over $800,000, reverts back to $500,000, as adjusted for inflation. It is scheduled to revert to $200,000 after 2011.
Another temporary change is an increase in the amount of depreciation deductions allowed with respect to luxury passenger automobiles. The limitation is increased in the first year to $8,000. As with the other changes, this change is only for vehicles placed in service in 2008 for the 2008 tax year.
If you have any questions about how this development applies to you, or about any other aspects of this legislation, please contact our office at your convenience.
Kahni M Bizub, CPA, MST
Tax Partner
Wright Ford Young & Co.
16140 Sand Canyon Ave, Second Floor
Irvine, CA 92618
(949) 910-2727
(949) 910-0181 direct fax
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