Now is the time to buy capital assets. Section 179 of the U.S. Internal Revenue Code provides tax benefits for businesses that purchase qualifying equipment, including forklifts. Thanks to the 2017 tax legislation, businesses have been able to deduct a significant amount of 'bonus' depreciation in the year they buy and place an asset into service.

In 2023, the maximum depreciation is $1.16 million. Businesses can deduct 80% of the asset in the year you put it into service and must then depreciate the remaining 20% over the asset's life. In 2024, the first-year deduction falls to 60% of the asset price and ultimately falls to 20% in 2026. The takeaway is to maximize that first-year deduction and step up your equipment purchases this year.

How to Calculate Your 2023 Section 179 Deduction?
The advantage of the Section 179 tax deduction is the ability to increase your upfront tax savings. Your overall savings can vary - the 2023 Section 179 Deduction Calculator can help you estimate your tax savings for 2023.

Tax laws and regulations can change, so it's essential to consult with a tax professional or accountant who is up to date with the latest tax codes and can provide guidance specific to your business and tax situation.

At Toyota, we understand the importance of maintaining a highly productive operation all while instilling a culture of safety in your facility. You need to be able to move product quickly while keeping your operators comfortable and secure. To help you accomplish all of your business’s goals, Toyota has designed the latest technologies to help you keep your eye on the prize and move your operation forward. Enter Toyota Assist. Toyota Assist is a robust family of features and options that work together to actively or passively assist certain operations in regards to operability, productivity, or situational awareness.

It is our goal to bring you individualized material handling solutions to help your operation reach unparalleled success. Let’s dive into the different aspects of Toyota Assist and how they may be able to help you take your operation to the next level.

Operator Benefits of Toyota Assist

LOAD HANDLING

At Toyota we don’t just meet the bare minimum. We go beyond what is expected and put the operator at the forefront of our work. At the core of the many safety elements built into our forklifts is our proprietary System of Active Stability™ (SAS). This revolutionizing and industry-leading forklift technology minimizes the likelihood of tip-over, reducing the risk for operators and those around them. When the system detects a situation that could lead to instability, it instantly engages the swing lock cylinder to stabilize the rear axle – changing the forklift’s stability footprint from triangular to a rectangular shape.

PUTTING YOU IN CONTROL

While some operators are content with using the same bells and whistles they’ve grown accustomed to over the years, there are many new technologies available that may make their lives easier, as well as make the tasks more comfortable. Toyota’s EZ Fingertip Controls put productivity at the forefront by placing all hydraulic controls in an ergonomic pattern that can be reached with minimal hand movement. Thanks to an included horn button and forward/reverse directional switch, operators can conveniently maintain one hand on the steering wheel while allowing the other hand to control all necessary functions outside of braking and travel. This intuitive design helps with operator comfort, and controls can be customized to manipulate up to five hydraulic functions, including clamp release interlock.

AWARENESS HEIGHTENED

While moving products from point A to point B is important, Toyota has engineered state-of-the-art stereoscopic vision technologies that can assist operators in identifying pedestrians or objects behind the forklift during a shift. The SEnS Smart Environment Sensor™ (SEnS) pedestrian detection system uses stereoscopic vision technology to assist operators by differentiating between some pedestrians and objects, and providing visual and audible alerts within the detection zone. Along with SEnS, the 360 camera system gives the operator a bird’s eye view of your forklift to assist in navigating tight environments. SEnS is available as an add-on kit that can be retrofitted for select existing and new Toyota forklift models.

In addition to SEnS, Toyota has developed the Smart Environment Sensor Plus® (SEnS+), which not only detects pedestrians or objects behind the forklift, but it limits the movement of the forklift by automatically slowing down the equipment when pedestrians and/or objects are detected. With dynamic zoning, SEnS+ adjusts the range of detection based on the speed and steering direction of the forklift. If the forklift is moving faster, the zone is expanded to account for potential, upcoming obstacles further away, up to 32 feet.

LOGICALLY PRODUCTIVE FOR PRECISE PICKING

At Toyota, our solutions are loaded with features to tackle your unique tasks and keep your operation moving forward. Toyota’s Lift Logic option is a productivity-enhancing solution for the most demanding, high-throughput, order picking applications. Lift Logic continuously monitors the height of the forks, and adjusts speed accordingly. This allows for the maximum speed appropriate for any height in its range.

Adding these features to your equipment can offer many long-term benefits to your operation. While meeting current demands can feel like a daunting and difficult task, it doesn’t have to be. We’re here to make life easier.

Electric forklifts can be beneficial in many different work indoor applications (and now even outdoors with Toyota’s 80-Volt Electric Pneumatic Forklift). Using electric forklifts in your warehouse is one of the most common uses of these machines and for good reason. Electric warehouse forklifts can reduce fuel costs and be charged at intervals that can maximize efficiency across shifts. Take a look at some of the following benefits electric forklifts could have in your warehouse space.

Electric Warehouse Forklift Benefits: Less Noise

You may not think about it, but having a quieter forklift may impact you or your operator’s ability to operate safely and effectively in certain applications. In smaller, confined spaces, with multiple forklifts running, it could get pretty loud. With electric forklifts, it lowers the noise level, allowing for easier communication, and less fatigue from your operators. Really, the only noise that electric forklifts have is the horn. In certain warehouses, this can make it easier for operators and pedestrians to hear forklift horns, co-workers, or other important workplace sounds.

Electric Warehouse Forklift Benefits: Lower Emissions

When you are using a gas or LPG burning forklift, you are producing emissions that could be harmful to your associates and products if not properly addressed. Electric forklifts do not generate any CO emissions. This helps keep your employees healthy and lower the impact of emissions in your warehouse.

Certain products can also be harmed by emissions including food items, other perishables, and various consumer products. Toyota electric forklifts come in a wide variety of lifting capacities to fit many different applications. Also, fewer emissions are great for the environment!

If you are using a gas or LPG forklift in your warehouse instead of electrics, we understand there are many reasons that might have influenced that decision, and Toyota is the U.S. leader in internal combustion forklifts. However, make sure you are using proper ventilation techniques if you’re using one in your warehouse.

Electric Warehouse Forklift Benefits: A Wide Range of Options

Because your warehouse needs to maximize space, it could be hard to fit a full-sized forklift down your narrow aisles. An electric warehouse forklift can help solve that issue. At Toyota, we have many different electric forklifts to fit your needs. Maybe you need to squeeze in those narrow aisles? The 3-wheel electric would be perfect. It has a tighter turn radius than most forklifts but still has the capacity to lift up to 4,000 lbs. Maybe your warehouse stacks pallets behind each other. This is where reach trucks work great. Being able to place pallets in front of each other makes sure you are maximizing your warehouse space and racking. No matter what type of warehouse blueprint you have, Toyota Material Handling has an electric forklift to fit your needs!

Electric Warehouse Forklift Benefits: Operating Cost

When it comes to the operating cost of forklifts, electric forklifts can usually be lower than that of internal combustion models. While IC models run on gas, electric forklifts run on, well, electricity! You may need to set up a charging station in your warehouse, but the cost of electricity can be significantly lower than that of fuel.

While IC models are still the most popular in the market, electric forklifts are increasing in popularity. So remember, if you are looking to increase productivity and ROI in your warehouse, take a look at all of the different electric forklift options from Toyota.

Written By: Lucas Collom, Toyota Material Handling, USA

When you start looking to buy a forklift, one of the first things you will notice are the different tire types that are available. Pneumatic and cushion tires are the two most common, and those tire types are often used as a dividing line for the forklifts used in certain operations (along with fuel type) If your business operates a lot outdoors, then you may want to take a look at this post explaining pneumatic tires and why they are beneficial. But if you work mostly indoors, then cushion tires are made for you. To put it simply, cushion tires are made of a smooth rubber that is fitted around a metal band, great for indoor applications. The following are some of the major benefits of cushion tires.

Advantages of Cushion Tire Forklifts: Great for Smooth Surface Applications

Cushion tires are designed specifically to work great on smooth surfaces, and the hard outer surface is designed to reduce chipping on the wheels. Cushion tires also contain more rubber, allowing for a safer, more comfortable ride for the operator. This extra rubber will also allow for a longer service life. But, using these types of tires outside on uneven terrain could cause early chipping, and could be a safety hazard due to the reduced traction of the cushion tires. While it is alright for you to use it on smooth asphalt outdoors, we recommend you limit the time you use them outside.

Advantages of Cushion Tire Forklifts: More Maneuverability

Another reason cushion tires are great for indoor applications is that they allow for a more maneuverable forklift. They are able to fit a smaller forklift frame, and have a lower ground clearance. When you operate in a warehouse, having a smaller forklift is important when it comes to making the most of your space. This allows you to navigate narrower aisles, and keep your racking closer together. The more space you have for racking, the more product you can hold in your warehouse.

Advantages of Cushion Tire Forklifts: Cost-Effective

Because cushion tires require less materials to produce, it is less expensive for companies to manufacture them. This is good for you, because they are usually cheaper than pneumatic tires. Another way cushion tires help you save money is by being easier to maintain. By making sure your warehouse floors are clear of debris, and not driving your forklift over tough terrain, you can help your cushion tires last.

Make sure you do some research, and really look into all of the different uses the forklift could get in order to make an informed decision. Once you choose a specific forklift and its tire type, I highly recommended against changing tire type on your forklift (and it’s often impossible to do so).

Original Post:  Lucas Collom, Digital Projects Administrator, Toyota Material Handling, USA