Upgrading your laundromat isn’t just a good business decision. It’s also a timely one, due to current tax benefits.  Bonus depreciation, an accounting method that encourage businesses to invest in new equipment, gives businesses a tax break on the purchase price of that equipment, allowing owners to immediately write off a percentage of the cost, rather than writing them off over their “useful life.”  Though the rules can change yearly, bonus depreciation is currently available for both new and used equipment, Investopedia reports. However, the amount you can write off depends on the type of asset.   Tax Cuts and Jobs ActEnacted in … Continue reading Reap Tax Benefits By Upgrading Now