Businesses must carefully consider how much of their budget is dedicated to maintenance and how much should be allocated for more significant renovations. Improvements that wind up increasing a property’s value or alter it in some major way are often classified as capital improvement projects. While many capital improvements become worthwhile long-term investments for businesses, they can also come with plenty of red tape. Navigating the ins and outs of these codes, laws, and regulations can be overwhelming enough to dissuade you from even making such investments. Fortunately, help is out there – better yet, the very contractors you hire to improve your property may be the ones to ensure your business’ ongoing compliance throughout.
Let’s explore how a qualified commercial paving company can help your business become more compliant during capital improvement planning.
Benefits of Commercial Paving Companies
Commercial Paving Companies Know What Constitutes Capital Improvement
Unless you’re in the business of interpreting U.S. tax law and other regulations, odds are you’re not an expert on capital improvements. As of now, the law states that an alteration to your property is considered a capital improvement if it meets the following three criteria:
- It adds significant value to the real property (or extends the real property’s useful life)
- It becomes a permanent part of the real property (i.e., it would damage the property if it were removed)
- It’s intended to become a permanent feature of the property
Like most other codes, however, there are a number of details, caveats, and nuanced components in between the lines. For instance, standard parking lot maintenance wouldn’t be considered a capital improvement on its face – if, however, this project were to expand due to specific circumstances (say, underlying damage is discovered and new drainage systems need to be installed), what began as periodic maintenance could become a capital improvement. Experienced commercial paving contractors will know how to handle the adjustments and nuances of a situation like this, ensuring that your capital improvement project goes smoothly and doesn’t run into any legal hurdles. Simply put, you can rely on the most qualified paving contractors to know the ins and outs of capital improvement so you don’t have to worry about it.
Commercial Paving Professionals Are Pre-Qualified for a Variety of Tasks
Knowledge is important, but the ability to put that knowledge into practice is crucial for maintaining compliance during capital improvement planning (or any major project, for that matter). So, when hiring a company to tackle paving, pavement repair, and so on, you want to know for certain that they have the skills and experience to get the job done properly, efficiently, and safely. At Cassidy Paving, our providers are pre-qualified for paving projects by the Commonwealth of Massachusetts, a distinction shared by very few of our competitors. This official, prerequisite certification proves to our clients well in advance that we pour the utmost care and professionalism into every project we perform, including all of those that constitute capital improvements.
Commercial Pavers Help You Maintain Your Capital Improvements
Capital improvements can significantly raise the market value of a given property. Over time, however, even the best improvements can begin to wear down, shedding some of their value. By working closely with commercial or industrial paving professionals for routine and periodic maintenance, you can make sure that your investment retains its value and useful life over the years.
Cassidy Paving Delivers Capital Improvements across New England
Capital improvement projects can be tricky to plan, navigate, execute, and maintain – that is, unless you’re working with the most knowledgable, qualified, and experienced paving contractors in New England: Cassidy Paving. Call us today at 866-978-9788 for a free estimate on your next asphalt project.