Equipment inventory liquidating capital asset afro american dating service

You might find buyers for fixtures, furniture, and equipment by listing them on websites like e Bay, craigslist, or bid4

Also search for websites that specialize in auctions for your industry; there are sites that specialize in restaurant equipment, industrial machinery, high-tech equipment, construction equipment, and so on.

If you have numerous assets with significant value, contacting a business broker or professional liquidator might be a good idea.

Don't expect to get more than 80% of an assets value, at most.

When you decide to close down your business, you'll need to "liquidate" the business's assets.

In plain English, this means you'll want to turn your remaining business assets, such as office equipment, capital equipment, electronic equipment, machinery, tools, and furniture, into cash to pay your creditors—or in a best-case scenario, to put in your pocket.

As you liquidate these assets, you'll want to record on this list how you tried to sell each piece of property (save copies of ads or Web listings), who ended up buying it, and the amount you received.

Keeping good records of your property and what happens to it will protect you in case a creditor later questions your liquidation of assets or in case you have to file for bankruptcy.

Competitors may also be interested in buying your intellectual property (trademarks, copyrights, and patents) and any works or jobs in progress, as well as your customer lists and company name or product names.

You will also need this information for your tax returns.

Next you'll want to find buyers for property that is fully paid for and that you have not pledged as collateral for another loan.

Make a list of the physical property your business owns, as well as any money owed to the business in the form of rent, security deposits, and unpaid bills (accounts receivable) you still expect to collect.

Your list should include: For property, write down a description of each item or category of property, the condition of the property, and who technically owns it—that is, what money was used to purchase the property—your personal funds, a partner's personal funds, or business funds.

If you have items that will be hard to sell, such as worn out equipment and office furniture, consider donating them to charity for a tax deduction.

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