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Tangible Property Tax Consulting
Maximize the complete lifecycle of a fixed asset
Tangible property, also known as fixed assets, is a key item on any balance sheet. Though companies benefit from the asset over time, the asset itself loses value as it ages. That loss is captured through depreciation deductions. When fully consumed, the company will likely invest in a new asset. This is a recurring cycle, and though it creates tax deductions, recovering the full value from an asset is often a neglected area with opportunity for improvement.
Through our unique process that pairs technical knowledge with technology, RSM’s tangible property services team can maximize the value of your fixed asset investments. We improve accuracy, minimize risk, reduce tax burden and enhance cash flow. Our fixed asset management platform allows for timely transfer of data and quick action. It is seeking out and acting on additional opportunities that exist.
More than just depreciation expense
Tax codes often incentivize companies to spend money on fixed assets by allowing the company to recognize expenses faster than actual declining value; however, broad financial and tax implications are frequently overlooked. Depreciation expense, property tax obligations, missed credit and incentive opportunities, and more, all affect an asset’s cost or value and ultimately affect your bottom line. When effectively managed, real tax savings, tax reductions and enhanced cash flow can occur.
The fixed asset universe
Our holistic approach to tangible property management creates customized fixed asset solutions that incorporate cloud technology, streamlined processes and deep technical tax knowledge. We can help your improve accuracy, minimize risk, reduce tax burden and enhance cash flow through cost segregation studies, fixed asset management, applying tangible property regulations for your organization and more.
If your company owns or leases energy-efficient commercial buildings, you may be eligible for a deduction for associated property costs.
Guidance provides procedures to implement the retroactive 30-year ADS recovery period for residential rental property.
The final regulations broaden the definition of real property compared to the more restrictive definition in the proposed regulations.
Procedural guidance provides taxpayers with an opportunity to apply bonus depreciation regulations retroactively and reconsider elections.