Fixed Asset Management Services
Is your fixed asset accounting and tax compliance process cost-effective?
As businesses grow, fixed assets often grow with them. For many companies, the process for managing fixed asset accounting and tax compliance does not keep pace with business changes. Fixed asset recordkeeping can become a high-cost function with little to no bottom-line return. RSM can assist with this technically demanding, high-volume data management process, providing cost-effective approaches throughout the fixed asset lifecycle.
From its initial purchase through the end of its useful life, every fixed asset contains many touchpoints that require thoughtful analysis. A technology-based approach may improve your ability to manage the details surrounding the purchase or sales price, sales tax, delivery point, book and tax bases, depreciation rates, class life and embedded tangible value. We can help you define the proper balance of process, technology and people investments.
In addition to operational savings, fixed asset consulting can also produce tax savings. Our experienced tax professionals consider a variety of approved approaches to determine the best asset valuation and ensure proper taxability. These include:
- Basis tracking
- Intangible value segregation
- Cost segregation of constructed assets
- Fixed asset recordkeeping quality and process improvements
- Sales and use tax accuracy
Why pay more than you owe? If your fixed asset management process has not been reviewed recently, you may be missing out on operational efficiencies or direct tax savings.
Fully-depreciated fixed assets can haunt your property taxes for years. Identify and fully dispense ghost assets to avoid excess taxation.
Many companies miscalculate the available accelerated depreciation on qualified leasehold improvements. Is your company one of them?
Fixed asset management is an operational and tax requirement that is often overlooked as an area for improvement. What is your opportunity?