Asset Tagging
Asset tagging can be a time consuming, labor-intensive project. Outsourcing this task to For What It’s Worth Appraisals, Inc is an excellent way to save yourself time, while confidently managing your tangible assets. (See also Asset List Reconciliation in our Services menu to learn how to potentially reduce your Tangible Personal Property taxes.)
Asset tags make it easier to track and to enforce your ownership rights. Affixing property ID tags allows you to monitor your assets easily, either by number or bar code scanner. Businesses usually tag assets that are commonly stolen, are capitalized, are mobile, or are used by various departments. Asset tagging also provides quick identification to distinguish your property from an independent contractor’s tools or leased property. We can help you determine which assets should be tagged and perform a systematic labeling of your valuables.
Benefits of asset tagging:
- Retrieve equipment that has been stolen or lost. Your asset tags can help provide a record, in case you wish to prosecute criminal activities.
- Provides a visual record of your leasing contracts or other service arrangements.
- May be required by your insurance carrier for record keeping and validation.
- Encouraged by police departments to help track stolen items.
- Essential for year-end equipment inventories and tax audits.
