The one inescapable truth about your construction equipment is that it’s going to lose its value over time. And while depreciation can’t be avoided, it can certainly be slowed down through regular maintenance, as well as used for tax purposes. But what equipment...
Hand tools and small power tools—like hammers, wrenches, socket tools, impact drills, chainsaws, or air compressors—are often targets of thieves because they’re easy to carry and allow for quick resale. And this trend is on the rise. As a result, the construction...
Running a construction business nowadays involves numerous challenges, one of them being the increasing incidence of tool theft. Stolen tools lead to project delays, budget overruns, and costly tool replacements. However, there are quite a few innovative and...
As a construction company owner or manager, you’re aware of how pivotal well-maintained equipment is in your company’s daily operations. But what happens when that equipment starts to lose its value? In this article, we’re going to be answering some of the most...
When your construction company buys a brand-new or used piece of equipment, one of the first things accountants will ask is how they should calculate equipment depreciation. Although this might seem like an accounting and tax-related technicality, applying the right...
Depreciation is the gradual reduction in the value of an asset over time, reflecting wear and tear, obsolescence, or aging. As such, it plays a pivotal role in financial reporting, compliance with tax regulations, and strategic decision-making. In this article, we...
