{"id":12288,"date":"2013-03-20T00:54:46","date_gmt":"2013-03-20T04:54:46","guid":{"rendered":"https:\/\/www.certitrek.com\/nebb\/ways-in-which-a-machinery-and-equipment-appraiser-can-help-during-tax-time\/"},"modified":"2022-12-20T09:15:11","modified_gmt":"2022-12-20T14:15:11","slug":"ways-in-which-a-machinery-and-equipment-appraiser-can-help-during-tax-time","status":"publish","type":"post","link":"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/ways-in-which-a-machinery-and-equipment-appraiser-can-help-during-tax-time\/","title":{"rendered":"Ways in Which a Machinery and Equipment Appraiser can Help During Tax Time"},"content":{"rendered":"

Everyone\u2019s favorite holiday is just around the corner. That\u2019s right \u2013 Tax Day is less than a month away! If you\u2019re still struggling to gather and submit paperwork, remember to add \u201cCall a CMEA\u201d to your list. There are several tax issues with which a Certified Machinery and Equipment Appraiser can help you.<\/p>\n

Gifts<\/p>\n

If your company gifted a piece of equipment that is worth more than $5,000, the IRS has certain requirements. A CMEA must inspect the piece of equipment to determine its fair market value, and the company that made the gift must attach the appraisal to its tax return.<\/p>\n

Cost Segregation<\/p>\n

If you are already looking ahead to next year and purchasing a building or improving the one you already have is part of your plans, your accountant might bring up cost segregation with you. This asset depreciation technique divides real estate into several categories, including land, personal property, buildings, and land improvements. Land improvements and personal property are depreciated more quickly than the other categories in order to reduce the business owner\u2019s tax obligations.<\/p>\n

Charitable Contributions<\/p>\n

Sometimes, companies that want to help their communities donate time and services to a charity. Those services are not deductible, but any non-reimbursed expenses incurred while donating those services are. Talk to your accountant about special rules regarding donations of appreciated property.<\/p>\n

Understanding Depreciation<\/p>\n

Depreciation has several definitions. When it comes to machinery and equipment appraisers, depreciation means how much an asset has decreased in value since its initial purchase price. Ask a CMEA to help you determine depreciation. He or she will base depreciation on the equipment\u2019s physical condition, its function, or other economic factors.<\/p>\n

Looking for a CMEA in your area before taxes are due? There\u2019s still time! Contact us<\/a> today!<\/p>\n

The NEBB Institute<\/a> endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery\/equipment appraisal and brokerage.<\/em><\/p>\n

By: NEBB Institute<\/a><\/p>\n<\/div><\/div><\/div><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"

Everyone\u2019s favorite holiday is just around the corner. That\u2019s right \u2013 Tax Day is less than a month away! If you\u2019re still struggling to gather and submit paperwork, remember to add \u201cCall a CMEA\u201d to your list. There are several tax issues with which a Certified Machinery and Equipment Appraiser can help you. Gifts If […]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[348,349,350],"class_list":["post-12288","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-2013-taxes","tag-appraisals-for-taxes","tag-tax-day"],"yoast_head":"\nMachinery and Equipment Appraiser can Help During Tax Time<\/title>\n<meta name=\"description\" content=\"If you\u2019re still struggling to gather and submit paperwork, remember to add \u201cCall a CMEA\u201d to your list.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.certitrek.com\/nebbinstitute\/blog\/ways-in-which-a-machinery-and-equipment-appraiser-can-help-during-tax-time\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta 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