Saving Money with Asset Review

Tuesday, 26 October 2021 14:49

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. 

When it comes to personal taxes, most people go to great lengths to secure every deduction possible. People look through the filing cabinet and the car's glove box, trying to find a receipt for a charity donation. But, many businesses fail to apply the same effort and thoroughness to reducing their business property taxes. If you haven’t reviewed your business assets and equipment, you could be significantly overpaying your taxes. 

In this post, we’ll cover:

  • what an asset review is
  • how different asset statuses can impact your taxes
  • how to reduce your business personal property tax bill this year and in the future

Nursing home operators often find deciphering business property taxes difficult. From the building and land to vast quantities of equipment, nursing home owners face significant tax bills. In this post on how nursing homes can save money on property taxes, we’ll review the steps officials can take to ensure they’re not paying too much in business property taxes

How to Find Brewery Property Tax Savings

Wednesday, 13 October 2021 09:52

Business property taxes can be a significant expense for breweries — especially new breweries. Whether a brewery has been in business for years or is just starting, finding brewery property tax savings can help your bottom line. 

We are explaining the types of business property taxes breweries pay and the steps owners can take to find tax savings. 

No one wants to deal with an audit, but odds are if you own a business in a state that collects business personal property taxes, you’ll face an audit at some point. Getting audit support from a CPA can make the process run smoother and keep you from paying more than you should. If the business personal property tax auditors find something, your business could face fines of up to 60%. Getting audit support as soon as you receive your audit notice is the best way to protect your business.

Accurately Budgeting for Property Taxes

Monday, 20 September 2021 16:20

Accurately Budgeting for Property Taxes

As businesses begin crafting budgets for next year, many companies struggle with accurately budgeting for property taxes.

From fluctuations in tax rates to changes in a business's equipment or locations, many factors influence how much a company pays in business personal and real property taxes.

In this post, we'll discuss:

  • why budgeting for your commercial property taxes is important
  • factors to consider to formulate the most accurate budget
  • what services are available to help with your tax budgeting