If you own or manage a business, you are probably quite familiar with the concept of capitalizing assets. Capital assets, which are sometimes called fixed assets, are basically durable items over a certain cost that you use to operate your business or produce your goods. Examples include manufacturing machines, heavy equipment, office or store fixtures, computer equipment, and vehicles. However, the broad category of capital assets can also include capital improvements that will likely require the assistance of a trustworthy Chicago paving company.
What Does a Chicago Paving Company Consider a Capital Improvement Project?
Trustworthy Chicago paving companies follow the guidelines established by the Internal Revenue Service to define legitimate capital improvement projects. Essentially, capital improvements upgrade, adapt, or enhance a property by making restorations or alterations. These features are meant to be permanent to the extent that removing them would damage the property. Furthermore, capital improvements should add value to the property. Bearing this description in mind, you might want to review the following list of capital improvement projects commonly handled by asphalt paving companies.
1. Parking lots are a common source of capital improvement projects handled by a typical asphalt paving contractor. The project can be an entirely new construction, or it can involve the demolition and reconstruction of an existing parking lot.
2. Depending on various factors, the installation of an asphalt paving overlay could be a capital improvement or a repair. Your Chicago paving company can help you make that determination after evaluating your specific circumstances.
3. Building, extending, or replacing private roads and streets could also be considered as capital improvements. For example, the cul-de-sacs and other streets that must be installed when developing a gated community could qualify.
4. Other examples of capital improvement projects that asphalt paving companies handle include walkways, drive-thru lanes, and pull-thru passenger disembarking areas.
How Do I Select the Best Chicago Paving Company for a Capital Improvement Project?
Whether you need an asphalt paving company, a concrete flatwork professional, or a Chicago paving contractor who can provide both asphalt and concrete services, the basic criteria are the same.
1. Seek out Chicago paving companies with a history of successfully completing capital improvement projects similar to what you need. Consider the scope, size, and complexity of your pending project when making comparisons.
2. Choose an asphalt paving company that can also maintain and repair your pavement. Contractors who understand the full lifecycle of a pavement can often recommend more cost-effective ways to approach a capital improvement project.
3. Make sure that the Chicago paving contractor you select is properly insured and appropriately licensed to perform the type of work you need. For example, all businesses operating within the Chicago city limits must have a valid Chicago business license. Furthermore, even if your municipality does not require contractors to carry insurance, you want to choose a Chicago paving company that at least carries workers’ comp, general liability, and vehicle liability policies.
4. Obtain a list of references from the Chicago paving companies that you are considering. Be sure to contact the company’s former customers to ask for their evaluation of the company and its work.
If you need superior results from the Chicago paving company you hire for your capital improvement project, do what Chicagoland commercial and industrial clients have been doing since 1975 and contact Black Hawk Paving. We provide national and local clients with a wide assortment of services, including asphalt paving, concrete flatwork, asphalt milling and grinding, car stops, site grading and excavation, asphalt repair, parking lot striping, ADA compliance assistance, asphalt sealcoating, traffic signage, and hot crack sealing. We have an impeccable reputation for craftsmanship, service, and professionalism. To request a free quote, fill out our online form, send an email to Info@BlackHawkPaving.com, or call us at 708-479-0400!
