78. The Most Valuable Episode for Your Bottom Line to Date with Laundromat Warrior Richard Weisinger
- Author
- Jordan Berry, Richard Weisinger
- Published
- Tue 30 Nov 2021
- Episode Link
- https://laundromatresource.com/show78
In today's episode, we delve into the world of taxes with a true Laundromat Warrior, Richard Weisinger. Famous for going toe-to-toe with the IRS in the 80's and 90's on behalf of laundromat owners, Richard knows the laundromat business like no other. And it shows.
As a former multi-laundromat owner himself, not only does he give actionable, monetizable tips for your tax planning purposes, he also gives great tips on operations, management, and acquisitions. This is an instant classic episode!
In today's show, Richard and Jordan discuss:
- Richard's background in the industry
- Richard's battles with the IRS
- The differences between laundromats and other businesses
- How to raise prices at your laundromat
- Why thinking about and planning for taxes is important as a business owner
- Depreciation- what is it, how does it help you, what is bonus depreciation
- Leasehold improvements and taxes
- State income taxes
- Timeless tax tips worth their weight in gold
- Depreciation recapture
- 1031 exchanges
- The power of real estate and businesses together
- Top tips for laundromat management
- What to look for in a laundromat location
- Why you shouldn't fall in love with your business
- Valuing your own work
- Using reputable agents
- Due diligence
And so much more!
Show Notes
https://laundromatresource.com/show78
Show Sponsors
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https://laundromatresource.com/getonline
Links
Call Richard- (310) 432-4037
Email Richard- [email protected]
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