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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.
When developing plans to expand or improve facilities, manufacturers should take an approach that includes analysis of tax opportunities.
Fully-depreciated fixed assets can haunt your property taxes for years. Identify and fully dispense ghost assets to avoid excess taxation.
IRS waives five-year prior item change for requests to comply with tangible property rules for tax years beginning before Jan. 1, 2017.
If your company owns or leases energy-efficient commercial buildings, you may be eligible for a deduction for associated property costs.