personal property tax strategies

PROACTIVE COST SAVING STRATEGIES:

The most significant opportunity for taxpayers, to increase profits, is to appeal overstated business personal property tax values. For personal property tax appeal, an Admiral Consulting team member works closely with your tax compliance-processing department to ensure tax returns are filled timely on the front end, taking advantage of ghost asset suppression, asset scrubs, exemption identification, economic obsolescence, and fair market valuation. 

NOT ALL REPORTABLE COST ARE CREATED EQUAL:

Unfortunately, many companies unknowingly report all costs from their asset ledger that may be taxable for federal purposes, however they may not be taxable for personal property tax purposes. Also, not every cost is taxable, and in many situations may add not market value to your assets. We also review and apply relevant court decision and state statutes, regarding tangible and intangible property, to ensure that you are using them to your advantage. Bottom-line.....if you report all costs from your asset ledger you may be inadvertently paying too much in personal property taxes.

APPEAL REPRESENTATION WITH RESULTS:

When Assessors propose values that exceed fair market value, Admiral Consulting provides appeal filing, site inspection, data gathering, case preparation, and hearing representation to remedy any egregious assessment. Admiral Consulting determines the most advantages route of appeal and proceeds through all appropriate informal and formal administrative hearings.

FREE EVALUATION:

At no cost to you, we can perform a FREE EVALUATION of your business personal property and determine if there is an opportunity to lower your business personal property taxes. WE will examine you asset ledger, and personal property returns, and identify those specific assets that may qualify for reductions. WE then implement our recommendation, only upon your review and consent.