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Depreciation is available for any company that purchases equipment; the "unique" thing as described in that article is simply that most of the value for car was
by hobobaggins 3y ago
Depreciation is available for any company that purchases equipment; the "unique" thing as described in that article is simply that most of the value for car washes is in the equipment, so depreciation strategies are very important, but any business can and should write off equipment, or any other expense against net profits.
- dr-detroit 3y ago[dead]
- sroussey 3y agoOh, sorry I thought the article had more detail. There is an accelerated depreciate for car washes that runs out in 2026 I think.
- sroussey 3y agoHere is a better article: https://engineeredtaxservices.com/the-unique-benefits-of-cost-segregation-for-car-washes/ https://engineeredtaxservices.com/the-unique-benefits-of-cos... > The Tax Cuts and Jobs Act (TCJA) of 2017 made a significant change in this area, currently allowing businesses to write off 80% of the cost of qualifying property in the year it's placed in service Why depreciate over 39 years when you can do 80% in one year.
- gunapologist99 3y agoSame article, right? And there's nothing in there to do with car washes specifically, though? Just general MACRS etc?
- sroussey 3y agoNot the same article. The tax act of 2017 has special provisions where almost nothing but car washes qualify.