Appreciate it, we will

 

I'm not agreeing or disagreeing with most of your post just pointing out that one part quoted above is faulty. Technically, a vehicle of any type (with the rare exception of a collector item or a classic) is not an asset. Yes it still has value but at best it's considered a depreciating asset. Most accountants consider assets something that is a concrete investment (preferably something that appreciates), vehicles depreciate as soon as you buy them. the rest of your post is funny tho.

back on topic:

 

You leaving for good finally?[sm=goodidea.gif]

 

An asset is anything that you have paid for that will be worth something in the future. Depreciation is predictable and therefore provides a future value to a vehicle, allowing it to hold a set paper value for a set time. The title to the vehicle can be turned in to the bank at any time for a determinable cash value, thereby allowing the asset, although depreciating, to have real cash value at any time. Vehicles and any other depreciating asset are still assets. That's why they are called depreciating ASSETS. Contrary to poular belief, most assets are, in fact, depreciating. Machinery, buildings, tools, furniture, equipment, and vehicles are all listed as assets to a company, but are all losing value over their lifespan.

Any publicly traded company provides an annual report that lists the amount of depreciation that it recognizes each year. They still have all of their assets, they are just worth a certain value less. This is recognized as an expense and comes out of the operating profits for the time period, but the asset still retains a value, and thereby increases the value of the company. There is not an accountant in the world that is going to tell you that a vehicle is not an asset. If you can sell it, it's an asset.

 

Tru dat .. if you've paid it off and it still has value it will be listed as an asset. My only point was that on a personal level (the point of this thread) I would consider it a liability more than an asset because although you've paid it off it is still worth less than what you paid and is still depreciating. Buying toys and considering them an asset is a poor mans game imnsho. On the books you're absolutely correct .. in the game of real life I beg to differ .. buying assets for a business as a tax incentive is whole different game than individual peons ... copasetic?

 

*bows* Excellent. How nice to make your acquaintance. Outstanding outing, best I've seen to date. Rarefied, air-tight rebuttal replete with comedy for effect. Typically guilty fluster of one-liners in response--proof enough for any court of appeal. Haha! Truly, my hat is off...

Are you sure you didn't migrate over as an original NSXPrimer...

 

cbrocket...we are here to have fun. Is this a funny response from you, too? I hope so. You are more than welcome to help us outwith info, or just post up an opinion. If you are truley annoyed by the responses, you better get used to it or get some thicker skin. We all take an e-beating from time to time, but it is no big deal. Just enjoy youself. That is why we are here. PM me if you have a problem. All new members should feel welcome...

 

lmao...