The new Budget Reconciliation law, the so-called “One Big Beautiful Bill Act (OBBBA),” prevents a more-than $4 trillion tax hike from taking effect at the end of this year by extending—and making permanent—many of the temporary tax cuts included in the 2017 Tax Cuts and Jobs Act (TCJA). Signed on Independence Day, July 4, the OBBBA includes a provision on write-offs for equipment and other business assets that is of great interest to many in the linen, uniform and facility services industry.

Depreciation Write-Offs

The 2017 TCJA featured a 100% bonus depreciation write-off allowing businesses to immediately deduct the full ...