Is a bank vault door part of the building or a piece of equipment? Understanding the nuances of answering this question reveals how retail banks can save money on property taxes.
Business property taxes represent a significant expense for retail banks, especially those with multiple branch locations. Therefore, identifying property tax savings can improve a bank’s bottom line.
In this post, we review the types of business property taxes banks pay, offer tips for reducing tax bills, and explain why the classification of a vault door isn’t as straightforward as you would think.
Franchise owners plan for their business and personal income taxes. But many franchisees may pay just as much if not more in property taxes. Business property tax planning for franchise owners ensures you don’t pay more than you owe in real estate or business personal property tax.
Between changes in tax rates to operational changes like adding locations or buying equipment, accurately budgeting for property taxes can be challenging for franchise owners.
To help, we’ve put together some of our best tips, including why planning for business property taxes is essential, top things to consider when planning and budgeting, and how to utilize a CPA to help.
For many managers and business owners, property taxes seem like the one huge expense they have no control of. But a common-sense approach makes controlling business property tax expenses easy.
Most companies understand income and sales taxes but lack clarity on business property taxes. American businesses pay more in property tax than any other state or local tax. Most companies try to manage income tax by maximizing deductions and credits. But their most significant tax expense —property taxes —gets neglected.
In this post on controlling property tax expenses, we’ll discuss what makes property taxes tricky and provide six tips for managing your property tax expense better.
Everyone loves a bargain. But as inflation increases, business owners want even more ways to save money on business equipment.
Follow the tips in this post to save money on the front end when you purchase and for years to come. The price you pay for a piece of equipment is only one factor in how to save money. To maximize your savings, you’ll also want to consider how to minimize your taxes.
No one wants to pay a penny more in taxes than required. The good news for business owners is that they can start saving money with an asset review.
Commercial property taxes can significantly impact the bottom line for doctor's offices and medical clinics. Whether you're a sole practitioner or managing multiple clinics, you can benefit from learning how doctors can save money on property taxes.
In this post, you'll learn what business property taxes are and our top recommendations for how to decrease your tax bill.