If you own a business, filing personal property taxes is a legal requirement that often requires a lot of time and due diligence. Each state has its own set of rules and regulations, making it helpful to retain a professional consultant who is familiar with local tax laws. It can be extremely time consuming and costly to use internal sources for these services. Outsourcing your business personal property taxes is the perfect solution as it will save you time and money in the long run.
Business personal property is considered any item owned and used for your business. Examples of this include:
Why should you outsource?
Many jurisdictions require you to report and account for fixed assets and inventory on an annual basis for taxation. Compliance with this reporting can be time-intensive and it requires a full understanding of which assets are taxable and which are not, helping to prevent the over or under-reporting of assets. With the overwhelming amount of forms, exemption applications, abatements, depreciation schedules, tax codes, and deadlines, compliance can become a heavy burden on many business owners.
Ready to Make an Appointment?
Contact our office at (469) 567-3017 or fill out an appointment request form to speak with a member of our team and discuss our business personal property renditions services, today!