#fixed-assets
Accounting for long-term tangible assets including equipment, vehicles, furniture, and property
Under ASC 842, ending a lease early means derecognizing the ROU asset and lease liability and booking the difference — plus the fee — as a gain or loss.
Ghost assets — equipment on your books but long gone — run 10-30% of fixed asset registers; a yearly physical count plus disposal entries clears them.
New Mexico SB 151 makes C corporations add back federal 100% bonus depreciation from 2027; pass-through owners keep it. Place assets in service in 2026.
Equipment breakdown insurance pays for internal failures your property policy excludes — typically $25–$50 a year per $50,000 of equipment, spoilage included.
A 2027 CapEx budget turns equipment failures into scheduled buys: inventory assets, rank projects by payback and NPV, and time purchases around Section 179.
Rental garments are fixed assets, not supplies: amortize them over 6–36 months, cost the plant per pound, and let route density set what the business sells for.
Rental skis lose value faster than 7-year MACRS assumes; keep a management schedule, and plan for IRS Section 1245 recapture on spring demo sales.
Your repaired car lost resale value the day it crashed — a US diminished value claim bills the at-fault insurer for the gap.
Replaced a roof or HVAC? The IRS partial disposition election deducts the old component's remaining basis on Form 4797 now, not over decades.
Section 280B puts demolition costs and a razed building's leftover basis into land, not a deduction. The 75% renovation safe harbor can preserve write-offs.
US exotic rentals need roughly 60% utilization — about 18 days a month — to clear insurance, financing, and the $4,000–$6,000 a car loses in value monthly.
A hot shop furnace burns 24/7, so book fuel as fixed overhead, not COGS — then price each piece on revenue per furnace-hour, sellable yield, and color cost.
