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The ISBA’s Course Schedule

May 28, 2014

When you join the NEBB institute, you get automatic enrollment into the International Society of Business Analysts (ISBA). The ISBA’s course schedule was recently announced and has all you need to expand your valuation knowledge.

The ISBA offers a pre-class, conducted online, which will prepare you for the in-person classes. The in-person courses take place in Grapevine, Texas, and are split into two sessions. The first session, Valuation Essentials, runs from July 24 through 27, and the second session, Advanced Techniques, runs from August 27 through 31. Part of each class is a proctored exam, which takes place the morning of the last day of each session.

For more information on these sessions, check out the ISBA’s website. And don’t forget about the CMEA training conducted by the NEBBI!

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

 

Graduating to CMEA

May 21, 2014

NEBBI graduationAll across the country, college students are walking across stages, shaking hands with deans, and collecting, at long last, their hard-earned degrees. It’s a very exciting time, and a genuine milestone in young people’s lives — doors that were closed to them are now open, and in most cases, they’ve increased their earning potential significantly.

It’s a good time to evaluate your machinery and equipment appraisal career. Are you where you want to be? Are there ways in which you can open doors for yourself and increase your own earning potential? Is it time for you to graduate to something greater?

Close to 500 NEBB Institute members coast-to-coast and worldwide have proven that a CMEA professional designation increased their bottom-line profitability just by adding the perfect complement to their business — Certified Machinery & Equipment Appraiser. If you’re tired of being the low man on the totem pole, dealing with the challenges and hurdles of keeping the lights on and the door open, you can change and excel by simply doing what others have done to get ahead of the curve — add the CMEA professional designation to your name.

Earning your CMEA designation may not have all the pomp and circumstance of a college graduation ceremony, but it’s still an achievement you can work toward to give yourself a competitive advantage. Contact NEBBI to find out more!

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

 

If You Think The Price Of An Item Is Its Value, Think Again!

May 14, 2014

If you ask a CMEA to appraise your piece of equipment or machinery, you’ll eventually receive a statement of their belief about the value of the piece appraised. The value comes from a variety of factors, such as how old the equipment is and how well its been kept up. Value has a huge range because there are so many variables that come into play.

So if you know the value of your equipment, you know a fair selling price, right? Wrong.

A piece of equipment may be indispensable to one company, but may be completely useless to another. One company might be willing to pay a large amount for a piece of equipment, no matter its condition or age, because it could improve their process in some way that allows them to be a better company. Still another company might offer a lower price for that same piece of equipment because although it may make things a little easier, it won’t do much to change the company as a whole.

Despite these variables, anappraisal report is still important. It is written proof of your asset’s value. It gives you a good starting place when you want to sell your equipment. And if a potential buyer asks about your price point, you can justify your price by providing a professional’s opinion.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By:NEBB Institute

 

NEBBI and ISBA

May 7, 2014

ISBAA lot of folks don’t realize it, but when you join NEBBI, you get a complimentary membership in the International Society of Business Analysts (ISBA). And having an ISBA member in your corner can be a huge advantage in today’s business climate.

To illustrate this point, here are 20 essential business reasons to consult an ISBA member who holds SBA (Senior Business Analyst) or CSBA (Certified Senior Business Analyst) professional credentials:

  • Business Valuations
  • Leasing
  • Buy/Sell Agreements
  • Business Transfers
  • Tax Purposes
  • Cost Segregation
  • Sarbanes Oxley
  • Insurance Purposes
  • Gift Planning
  • Retirement Planning
  • Trust Agreements
  • Estate Planning
  • 1031 Exchanges
  • Converting from C Corp to S Corp
  • Partnerships
  • Litigation Support
  • Bankruptcy
  • Liquidation
  • Property Taxes
  • Strategic Planning

For more information about the ISBA, visit their site today!

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

Appraising at the Quilter’s Guild

April 30, 2014

QuiltIn the appraisal world, there are plenty of sister- and brotherhoods. At NEBBI, our focus is on machinery and equipment, but we have a close relationship with organizations and companies that appraise real estate, property, jewelry, antiques, and all sorts of other things for which people need to know the correct value. Those are just the circle we run in.

But there are some appraisers out there who have a really narrow focus. Case in point: a woman by the name of Judy Lyons, who was on hand this past weekend at the Chatham, Ontario Stitches in Bloom Quilt Show, held by the local Quilter’s Guild. That’s right — Judy is a quilt appraiser.

Now that may sound a little out there, but consider this: Judy is a member of the International Society of Appraisers (ISA), is certified with the American Quilters Society (AQS), and is a member of the Professional Association of Appraisers-Quilted Textiles (PAAQT). Her credentials are in compliance with the Uniform Standards of Professional Appraisal Practice (USPAP), just like ours are.

So when you really think about it, is what we do all that different from what Judy does? Not really. And you can plainly see how much more trustworthy someone is when they’re certified and USPAP-compliant. All of our CMEAs are — just don’t ask them what your quilt’s worth.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

Gift Taxes and Certified Appraisers

April 16, 2014

NEBBI GiftAround this time of year, we don’t really think too much about giving gifts. Except perhaps an Easter basket. But as a business owner, here’s something you might not be aware of — if you gave a piece of machinery or equipment to a person or company during the year and received nothing in return — or a payment of less than the property’s value — as far as the IRS is concerned, you gave a gift. And that gift is subject to a gift tax.

If you gave the gift, the taxes are usually paid by you and not the person or company who received it. Some types of gifts are not subject to the gift tax, such as gifts to a spouse, gifts to charity, and gifts to help with educational expenses. If you’re not sure whether your gift requires paying a gift tax, be sure to check with your accountant. If it turns out you are responsible for a gift tax, the next step is to hire a certified appraiser.

The appraiser will prepare an appraisal report in which he or she has determined the fair market value of your gift. Submit this appraisal report with your tax return, and be sure to include the date the gift was given and the name of the recipient.

This year’s tax season may be over, but it’s never too late to start planning for next year. If you need a certified machinery and equipment appraiser, the NEBB Institute can help you find one.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

 

By: NEBB Institute

 

The Recession and Auction Businesses

April 9, 2014

The auction business has always been viewed as somewhat recession proof. When times are good, companies need to sell off old equipment to make room for the new. And when times are bad, companies need to sell off old equipment to pay the bills. But in this long-lasting recession and slow recovery, some auctioneers have noticed that this old rule doesn’t necessarily hold true. Struggling businesses still want to sell their equipment, but other struggling businesses don’t have the money to buy it or don’t have the need for it.

A lot of NEBBI members are auctioneers who have found that a CMEA certification does a lot to help their business. So we want to hear from our auctioneer members who also hold a CMEA certification. How has the recession affected your business? Have you noticed fewer people buying? Or has it been business as usual?

TheNEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By:NEBB Institute

The 3rd Annual Machinery & Equipment ID Conference

April 2, 2014

NEBBI-ClevelandThe American Society of Appraisers will be presenting a two-day Machinery & Equipment ID Conference on June 4-5, 2014, at the Hyatt Regency Cleveland at The Arcade in Cleveland, Ohio.

Sponsored by ASA’s Machinery and Technical Specialties Committee, this annual event will include informative educational sessions from experts in the field who will discuss current market conditions and trends, hands-on equipment inspections, networking opportunities, and a variety of entertainment options in the beautiful city of Cleveland.

New for this year — the Equipment Showcase! In lieu of a tour, attendees will go out in the field to crawl around various pieces of equipment and get their hands dirty. Industry experts will guide attendees through the inspection process for each asset. Be sure to bring your jeans and work boots! A Banking Roundtable will also take place with participants from banking and leasing companies discussing the latest issues and challenges.

In addition, on June 4, the World Series Champion Boston Red Sox will be in town to face the Cleveland Indians at 7:05 pm. The ASA has secured a suite at Progressive Field to watch the game; however, seating is limited to only 30 attendees so be ready to jump on this when registration details are released!

Breakout sessions will include Agriculture Equipment, Construction, Forklifts, Machine Tools, Marine, Medical, Plastics, Transportation, and more!

For more information contact Joe Santora, ASA at (440) 237-0800.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

 

 

The Importance of an Asset List to Your Certified Machinery and Equipment Appraisal

March 26, 2014

As a small business owner, it’s likely that you’ll need an appraisal at some point in the life of your business, whether you’re selling it, trying to get a loan, or unloading used equipment. When you hire an appraiser, it is helpful to provide him or her with a complete list of the machinery and equipment the appraiser will be working with.

If you’re hiring an appraiser for one of the above reasons, you’ll have enough going on that compiling that list will seem like a lot of work. The alternative is updating the list of all your machinery and equipment on a regular basis. You might update it as equipment comes in or goes out, or you might choose one month every year to update your list.

Keep in mind that an asset list is not the same as a depreciation schedule. An asset list should contain all of the information an appraiser needs to properly value your equipment. Make sure to include the following information about each piece of machinery on your list:

  • Location

  • Client asset number

  • Year of the equipment

  • Make

  • Model

  • Year you purchased the equipment

  • Cost of purchased equipment

  • Current depreciation amount

  • General specifications – i.e., size, weight, etc.

  • General description of the asset

  • Meter count: hours / odometer, etc.

  • Serial number or VIN

  • General item/Property name

  • Location of equipment or machinery

Make sure not to leave anything out! Your appraiser will need a complete basis for valuation, so if there is information missing, your machinery and equipment could be undervalued.

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute

 

 

CMEAs and Undertakers

March 20, 2014

UndertakerNot two careers you normally associate with one another, are they? But there is one common thread between CMEAs and undertakers. What could it be? Read on …

There’s a very old saying that goes along the lines of “Even in the hardest of times, the undertaker never goes hungry.” In other words, the undertaker’s job is secure because he’s filling a role that everyone will eventually need.

Of course, not everyone will need a CMEA in their lifetime, but it’s a very secure and virtually recession-proof line of work. There’s a huge market for appraisal services because needs are not being met, and whether the economy is going up or coming down, appraisers make money.

Now, granted, you could take this concept and run with it and simply declare yourself a machinery and equipment appraiser. People have done it in the past and continue to do it to this day. But the CMEA designation raises you up and provides you with professional credentials that will make your reports stand up to scrutiny. A non-certified appraiser can’t say that. Would you go to an undertaker who lacked professional credentials? Of course not. Well, at the very least, we hope not!

The key to any successful business is to find a void and fill it. To that end, machinery and equipment appraisal offers what other industries don’t … an attractive diversification that offers both discipline and economic freedom.

Intrigued? Why not sign up for CMEA training today?

The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.

By: NEBB Institute