Are you considering retooling your laundry business? Did you know that purchasing or financing equipment before the end of 2020 could save your business thousands in taxes? With Section 179 of the IRS 2020 tax code, U.S. businesses can deduct the FULL PURCHASE PRICE of qualifying equipment during the tax year in which they are purchased or financed and put into use. The Section 179 deduction limit for 2020 is $1,040,000.
That means that if your business buys qualifying equipment and puts it into service this year, you can deduct the FULL PURCHASE PRICE from your business’s 2020 gross income. Talk to your CPA or financial advisor to find out if you could benefit from section 179 deductions in 2020.
- Section 179 allows U.S. businesses to deduct the FULL PURCHASE PRICE of qualifying equipment
- The limit for 2020 is $1,040,000
- Equipment must be installed and in use by December 31, 2020
- Yes!! Financed equipment can qualify for Section 179 deductions
- Talk to a CPA or financial advisor to see if you qualify.
Get the biggest bang for your buck! Save even more with our exclusive laundry bundles.
Laundrylux is making it easier than ever to upgrade your laundromat with new profit-boosting equipment. We have commercial laundry equipment bundles to suit every kind of store.
THE CROWD PLEASER $569/MO *
Customers love the super-fast turnaround times, and laundry owners love the utility savings and easy soft-mount installation of these 2 x 60 lb. high-spin Electrolux Professional washers.
THE FAMILY FAVORITE $1299/MO *
This package is for laundry owners who want the very best. These large 2 x 60 lb. and 2 x 75 lb. high-spin Electrolux Professional washers allow families to get multiple loads done in under 1 hour.
THE RELIABLE RETOOL $279/MO *
For owners who are looking for a reliable, budget-friendly improvement on their out-of-date laundry equipment, these 2 x 45 lb. Wascomat 100G commercial washers can’t be beaten.
THE SEMI-PRO UPGRADE $219/MO *
Offering budget-conscious owners a huge upgrade on residential and top-loader models, these 4 x 22 lb. Encore semi-professional washers deliver commercial-grade reliability with a residential price tag.
*Price does not include sales tax, installation, or freight.
Don’t delay! Equipment must be installed before December 31
In order to qualify for a 2020 section 179 deduction, your new equipment must be installed and in use before the end of 2020. Contact Laundrylux today to discuss your retool. We’ll advise you on the best Electrolux Professional and Wascomat profit-boosting equipment for your store and make sure that it is ready for use before the deadline.