The first step in asset planning is, of course, to create the plan. An asset management plan will serve as a road map for you and your company to carry out your asset management strategy. Not sure how to get started? In this article, we will lay out five essential steps to building an asset management […]
Having a large number of fixed assets can be a lot of work to manage. And recording small accounting transactions may seem like more trouble than they’re worth! However, implementing a capitalization threshold helps you effectively track the fixed assets that will be used in the long run and expense the smaller, more inconsequential purchases. […]
You’ve purchased a tow truck or logging equipment with Coastal Kapital. How much is it worth now? Do you have a good idea of what fixed assets your business owns and their current value? And since fixed assets depreciate over time, it can be difficult to remember to replace or repair them. Keeping track of […]
Anyone who has bought a vehicle is already familiar with depreciation. It is an inevitable fact that cars lose 20% of their value in the first year of ownership. After that, they retain only 40% of their original value after five years! Depreciation also applies to other tangible assets that are purchased for your business. […]
When making business purchases, time should be considered a factor in your decisions. How long will the machinery, equipment, vehicles, and buildings you buy be useful for your business? In this article, we will discover what the useful life of an asset is and how to determine it when it comes to depreciating assets. Useful Life […]
Equipment financing is a blessing to many businesses today. With the ability to quickly obtain funds to buy, lease, or repair equipment, you can quickly scale production and ensure your business continues to run smoothly without a hitch. But how exactly does equipment financing work? Are you considering seeking out equipment finance from a lender? […]
What Is Heavy Equipment? Simply put, heavy equipment is any self-propelled, self-powered, or pull-type machinery or vehicle, including farming or diesel engine vehicles or equipment that weighs 1,500 pounds or more. Heavy equipment is used in various industries and earthmoving applications, including mining, construction, agriculture, industrial, and forestry. Some also refer to heavy equipment as […]
Restaurants have unique financial requirements. They may need new equipment or more working capital. They may want to expand or start a new business. Whatever the reason, getting a business loan can be challenging for anyone in the restaurant industry. At Coastal Kapital, we understand the difficulties that can surround getting a restaurant loan. According […]
If you are a business owner, then you know that equipment depreciation is an important part of your financial planning. This deduction can help offset the cost of new equipment and keep your business running smoothly. An added benefit is that businesses can claim a federal tax deduction for machinery and equipment depreciation. But how […]
