Fixed assets are key items on any company’s balance sheet. As the item ages, it’s known as a depreciating asset and the business takes a deduction on its federal taxes. When the value of the depreciating asset is consumed, its product lifecycle is over, and the company invests in a replacement. This is a recurring cycle, and though it creates tax deductions, recovering the full asset value is often a neglected area with opportunity for improvement.
Currently, tax codes incentivize companies who spend money on fixed assets by allowing them to recognize expenses faster than actual declining value. However, broad financial and tax implications are frequently overlooked.
By combining tax expertise with technical knowledge of technology, RSM’s tangible property services can maximize the value of your fixed asset investments. We feel our tax professionals’ approach to managing fixed assets across a lifecycle with propriety technology tools is a unique benefit for middle market companies.
Our holistic approach incorporates cloud technology and streamlines processes with cost segregation studies, fixed asset management and applying tangible property regulations for your organization. Depreciation expense, property tax obligations, missed credit and incentive opportunities all affect an asset’s cost or value and ultimately affect your bottom line. RSM can demonstrate effective asset management that offers real tax savings, tax reductions and enhanced cash flow.
Cost segregation studies provide insight and analysis to help you properly classify assets and maximize tax savings, which may be especially helpful to companies building, purchasing or renovating property.
Fixed asset management is an operational and tax requirement that is often overlooked as an area for improvement. Our tax consultants can uncover opportunities.
Defensible classification of fixed assets is important. Our tax experts will recommend methods for turning business tangible property into an advantage.
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