On 7/1/2013 9:40 PM, Ed Huntress wrote:

Amazed that they were high, or low? Usually, when you do it that way,
the value is little better than scrap value. Otherwise, you should be
in the machinery-building business.

The bank wants to know the minimum it could get by liquidating your
business.


I don't fully understand the tax implications but I will ask the
accountant to explain it slowly in smaller words.

They valued those OEM machines at more than 5 times what I did and some
at 25x. They valued 3 of my/their machines that were heavily modified
at 75k each and I has less than 3k in each and I estimated value at 10k
each. They make products faster and better than any other in the world.
(very small niche) I needed value to show the bank and my newest
non-shopbuilt machine was bought in 1965, thus the OEM estimate. When
people ask me how old is a machine, I say "Which part?" The OEM still
makes the exact base machines I have. Sometimes they call me to ask how
I solved some problem or another, not really surprising, I've probably
been working on them since before the OEM engineers were born.

Might not be doing this much longer, we're negotiating with a company in
Taiwan. I'm not getting younger and have no kids. I'm thinking golf,
Walleye and shooting sports.