All you need to know about the asset disposition protocols

The calculation of residual basis of an existing asset after removal on remodeling project has undergone drastic changes. Under the new protocols of September 2013 IRS tangible property regulations, now the value of the written off assets can be calculated under abandoned components. Take benefit from this update and conform to the IRS laws by hiring a competent expert from Lindon Engineering Services. Our experts have conceptualized and rolled out our own procedure for identifying, quantifying and estimating the cost of the removed 39-year property. This way the clients get an extra write-off in line with the value of the abandoned assets (after subtracting the accrued depreciation). They will also help with removing the barriers to determining the real cost of the abandoned components. With the help of the construction drawings including a set of the demolition plans, the most recent depreciation schedules of the facility and the contractor’s final pay application, they can compute an estimate of the removed assets in a logical way.