Unlocking Your Business Potential
What is scrap value and salvage value? In financial accounting, scrap value is associated with the depreciation of assets used in a business. In this situation, scrap value is defined as the expected or estimated value of the asset at the end of its useful life. Salvage value is the estimated resale value of an … Read more
Do antiques count as assets? Thanks to newer tax laws, antiques are now assets under Section 179, just like any other standard business equipment. A regular desk will likely depreciate over the years, but the antique is a money-maker, likely to increase in value. Read more on member.taxstrategyletter.com Old things of worth because of their … Read more
Most people first consider physical assets, or those that can be touched and seen, like real estate or equipment, when thinking about assets. Intangible assets are another class of asset that are equally significant. Non-physical assets known as intangible assets, which have value but cannot be touched or seen, are essential to the success of … Read more