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Coin-O-Matic to Present Bonus Depreciation Webinar

Tax incentive allows laundries to deduct full price of eligible equipment this year

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.

Coin-O-Matic to Present Bonus Depreciation Webinar

Have a question or comment? E-mail our editor Bruce Beggs at [email protected].