Tool bits with floating magnet sleeves

A tool bit assembly, comprising:

• a tool bit having a shaft with a first working region disposed at a first end of the shaft and configured to drive a fastener, a first shank portion disposed proximate a second end of the shaft and configured to couple the tool bit to a power tool, a first reduced diameter torsion zone disposed closer to the first working region and having a first shoulder closer to the first working region and a second shoulder closer to the first shank portion, a second reduced diameter torsion zone disposed closer to the first shank portion and having a third shoulder closer to the first working region and a second shoulder closer to the first shank portion, and an intermediate portion of larger diameter than the first and second reduced diameter portions disposed between the second shoulder and the third shoulder;
• and
• a floating sleeve having a radially inwardly projecting retention mechanism at a rear end of the sleeve and a magnet at the front end of the sleeve,
• wherein the floating sleeve is removably receivable over the tool bit in a first orientation with the magnet proximate the first working region and the retention mechanism received in the first torsion zone such that the floating sleeve may move between a first forward position in which the retention mechanism abuts the first shoulder and the magnet is able to engage a fastener being driven by the first working region and a first rearward position in which the retention mechanism abuts the second shoulder and the magnet is retracted relative to the first working region.

A tool bit for driving a fastener comprising:

• a shaft with a front end and a rear end;
• a working region disposed at the front end and configured to drive a fastener;
• a shank portion disposed at the rear end and configured to couple the shaft to a power tool;
• a first reduced diameter torsion zone disposed in the shaft proximate the working region and configured to reduce stresses and breakage in the shaft;
• and
• a second distinct reduced diameter torsion zone disposed in the shaft proximate the shank portion and configured to reduce stresses and breakage in the shaft.