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Attorneys and Certified Machinery and Equipment Appraisals (CMEAs)

 In our last few posts, we’ve talked about why business owners, auctioneers, and lenders need certified machinery and equipment appraisals (CMEAs).

Frequently, attorneys work on cases that involve the value of a business’s assets, including physical assets like machinery and equipment. But relying on a client’s estimates, following a depreciation schedule, or guessing at the value of assets can leave attorneys and their clients open to liability. Asset value estimates put forth by uncertified appraisers will not hold up to scrutiny. To protect themselves and their clients, attorneys should work with a certified machinery and equipment appraiser to ensure that a client’s assets are valued accurately. Being able to present values that are accurate, substantiated, irrefutable, and defensible will only strengthen a client’s case.

These are a few of the instances in which a CMEA can help strengthen a client’s case:

  • Loans/Leases
  • Property Taxes
  • Insurable Value
  • Divorce
  • Converting from C to S Corp
  • Cost Segregation
  • Taxes
  • 1031 Exchanges
  • Trust Agreements
  • Buy/Sell Agreements
  • Estate Planning
  • Bankruptcy
  • Retirement Planning
  • Partnership Dissolution
  • Strategic Planning
  • Litigation Support
  • GASB 34
  • Sarbanes-Oxley
  • Gifting

Without a CMEA, a client’s divorce or partnership dissolution could exclude the value of their machinery and equipment because the opposing counsel has a CMEA.

An appraisal report from a certified appraiser arms attorneys with a defensible and substantiated value of machinery and equipment that will stand up to scrutiny from the IRS, courts, lenders, attorneys, CPAs, and others.

To learn more about EquipNet’s appraisal services, take a look at The Asset Accuracy Resource Center.

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