Even your AV Equipment can earn you a Tax Deduction
Change is an unavoidable element in this life (well save from a vending machine) and this is something that can no doubt be said of technology. When it comes to business AV equipment, vintage isn’t a word that can exactly be used to describe the assets, as it would on home electronics like cassette players, sound systems, video machines, DVD recorders and the like.
For business audiovisual assets, the newer the equipment the better. Whether you are a small company that relies on overhead projectors for staff training or a progressive events company keen on adopting cutting-edge AV equipment, new is a word that factors highly. In fact, the latter group relies heavily on using the latest technologies to stay at par or a step ahead of the competition. You can say the equipment acts as a form of business card for them.
This means that more often than not a good deal of companies out there have excess inventory they need to get rid of. This doesn’t mean just events companies. Many businesses these days are increasingly looking to invest in audiovisual electronics in their bid to increase productivity and lower costs. The equipment could range from simple flip charts to overhead projectors and AV trolleys, to sound systems and computer-based displays, to the more complex data-graphics projectors, hologram machines and much more.
It is thus understandable that asset recovery is one dilemma facing many businesses, especially in this era of climate awareness as we strive to protect our fragile planet from the scourge that is electronic waste. Discarded electronic equipment has very toxic elements such as lead and mercury which can have fatal consequences when released into landfills or allowed to seep into groundwater.
In fact, notorious companies who seem to have found dumps in some developing countries have caused insufferable damage to the local residents with cases of all kinds of cancer it would leave you disturbed if you saw the consequences.
But what’s the point here?
The thing is, companies need to find a responsible way to do their audiovisual asset disposition. There are several options to this such as selling the electronics to interested parties, trading them for something else, or making use of the buy-back clause, if they have got one. The problem with some of these disposition methods, however, is that either you are likely to encounter a lot of unwilling buyers, or the equipment isn’t just viable for liquidation.
That said, the best option you are left with (apart from recycling) is donating the equipment to a recovery solutions company like Excess Logic. The good thing with donating to a vendor like us (as opposed to charity, or other disreputable vendors) is that not only do we possess the knowhow and equipment to refurbish the equipment, but also can help in data sanitization when it comes to some of the assets that contain your information in them.
That aside, donating the equipment can earn you a tax deduction amounting to half the residual price. There isn’t a lot involved in it really, and the asset recovery services vendor should be able to provide you with a receipt which you will use for deduction come tax time.