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The end of the year usually means an increase in customer orders and revenue for your business. The end of the year is also a time for planning to be successful next year and taking advantage of the many year end deals that can drive that success moving forward. Here’s a look at some things to consider before Dec. 31.
In the US, equipment purchased for your business before the end of the tax year can become a significant deduction when you file your taxes. Section 179 of the federal tax code allows businesses to deduct 100 percent of any qualified equipment purchases in the tax year in which it was purchased, rather than collecting a deduction for depreciation over the next five years.
In other words, if you purchased a new printer for your sublimation business that costs $1,600 before the end of the year, you could deduct the entire amount on your 2017 taxes, which would reduce the amount of taxable income.
Consult with a tax professional to see if this is the right idea for your business. Outside of the US, there may be similar types of situations that you can take advantage of for your business. Check with your tax and business authorities to see what options are available.
Just like you, your suppliers may be offering holiday sales and end-of-the-year deals. In fact, many suppliers offer incredible Black Friday savings and packages, as well as continual sales and discounts throughout the season. For example, Sawgrass is offering a promotion to customers in US and Canada who can trade up to a new Virtuoso HD Product Decorating System and get up to four free ink cartridges until December 31 if they have a sublimation printer up to 44 inches.
Buying strategically can help you start off 2018 ahead of the game. Begin your decision-making process by looking at which products sold well and at what volume in 2017. Would keeping more substrates in stock reduce shipping expenses? How much paper and ink did you need? What about packaging and shipping materials?
Answering questions like these may give you quicker turnaround times and save in the long term but will require an investment in inventory. However, if the discounts are good, consider buying items you sell the most in bulk and keep them in stock. This will translate into higher margins on future sales, plus you can benefit from discounts based on quantity.
In reviewing production over the past year, also consider whether a larger printer may open the doors to a wider range of services, such as large apparel prints, or help you keep up with high-volume sales. If so, consider purchasing a Virtuoso SG800, with a maximum media size of A3+ or a Sawgrass VJ 628, which prints full-bleed on 24” / 610 mm substrates.
On the other hand, your current sublimation system might be ideal in terms of image size, but a bit slow in keeping up with production. Adding an additional printer to your shop might be a great solution, as it would double your printing output. Many high-volume shops manage their sublimation production needs with multiple small printers, like the SG400 and SG800 printers, rather than moving up to wide format systems.
Perhaps you are ready to produce banners and signage, or want to venture into textile or photo panel production. The Virtuoso 25” / 630 mm 8-Color HD Product Decorating System featuring the Sawgrass VJ 628 printer would be the right fit for you. The industry’s first fully integrated sublimation printing solution of this size, this system offers a best-in-class print engine, sublimation ink set, software and support - all in one package. It has been designed for high-volume, high-definition printing - and is built to last, even in the most demanding production environments.
The system also delivers maximum flexibility, with eight ink channels that can accommodate SubliJet-HD’s dual CMYK inks (maximum print speed) or any of our eight-color ink specialty sets:
November and December are great months to buy sublimation supplies and equipment. If you are considering investing in a new sublimation printer in 2018, it might make sense to purchase now and take advantage of any specials and possible tax deductions.
To learn more about sublimation and transfer printing options contact a Sawgrass Dealer.
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