ALSIP, Ill. — Commercial laundry equipment distributor Coin-O-Matic will offer a special webinar this week intended to help Laundromat owners take advantage of bonus depreciation.
Coin-O-Matic President Matt Miller is teaming with Tony Fremarek, owner/founder of A Fractional CFO, to present the free webinar at 10 a.m. Central on Thursday (Oct. 29).
Bonus depreciation is a tax incentive that allows laundry businesses to deduct up to 100% of the price of their commercial laundry equipment or other eligible assets this year rather than write them off over the “useful life” of the equipment, Coin-O-Matic says.
The 100% additional first-year depreciation deduction was created in 2017 by the Tax Cuts and Jobs Act and generally applies to depreciable business assets with a recovery period of 20 years or less and certain other property, according to the Internal Revenue Service. Machinery, equipment, computers, appliances and furniture generally qualify.
The Coin-O-Matic webinar will provide an overview of bonus depreciation and Section 179 depreciation basics, capital planning for Laundromat businesses, and creating an equipment life-cycle replacement policy.
To learn more or to register (space is limited), visit the Coin-O-Matic website.
Have a question or comment? E-mail our editor Bruce Beggs at [email protected].