I have had a small business in the audio space for about 20 years. I need to shut it down, and am not sure how to handle the physical assets (equipment) that have been on the books (and depreciated) for years. All the articles that I've read about this process simply say to sell the assets and put the proceeds against debt or distribute to primary owners. But a) there is no debt, and b) I don't want to sell the equipment outright - I want to keep it as a "hobby", where I can use it to help out various local organizations as a volunteer. Do I need to "sell" it to myself? Any help, links would be appreciated.
