Tangible Property Tax Consulting
The tax treatment of fixed assets can become a true advantage
Whether it is the final tangible property regulations, proactive tax planning or the classification of assets for property tax purposes, the treatment of fixed assets is an increasingly important business concern. Companies have the opportunity to apply IRS-approved accounting methods to distinct types of property to manage overall tax liabilities and decrease audit risk. Many businesses are also required to adjust fixed asset accounting methods as a result of the most recent tangible property regulations. Knowing how to favorably comply with tangible property rules is critical to identifying an advantageous and defensible classification of assets.
RSM has tangible property, cost segregation and accounting methodology professionals with deep experience in consulting with companies to manage fixed assets and apply the tangible property regulations at the federal and state levels.
The guide will assist agents in examining taxpayers’ treatment and implementation of the final tangible property regulations.
These final regulations defining real property for REITs are effective for tax years beginning after Aug. 31, 2016.
Retailers should assess gift card procedures including an annual review of reporting, sales tax, unclaimed property and more.
If your company owns or leases energy-efficient commercial buildings, you may be eligible for a deduction for costs associated with the property.
GOP tax plan would change the tax treatment of business entities.
Experience and focus on details allowed RSM to help a client gain efficiency, improve processes and realize millions in tax savings on fixed assets.
Tax planning opportunities are available when gifting artwork; however, for donors who don’t do their homework, surprising results can occur.
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