Fixed-Asset Consulting

Looking for another idea to generate cash flow? A fixed asset comprehensive tax scrub (FACTS) can provide immediate tax savings and deferral opportunities.

Get the FACTS
Even though fixed assets typically make up a significant portion of a company’s balance sheet, managing them is an area that is often overlooked in running day-to-day operations. But ignoring the proper capitalization of fixed assets can mean that you’re missing out on significant tax benefits, or worse yet, can lead to issues with government tax authorities. A comprehensive tax scrub can unleash these benefits and uncover compliance risks.

A FACTS engagement is designed to reduce federal and state tax liabilities by applying tax laws to your fixed assets. Immediate tax deferrals can result from accelerating deductions on assets that were previously placed in service with improper tax lives or methods. We give you a written report that assesses your company’s fixed-asset management, areas of risk, and most importantly, areas of opportunity for cash benefits.

You may gain several benefits from a fixed asset comprehensive tax scrub. Here are some of the services we can provide: 

  • Economic Impact. Correct tax lives and methods, resulting in favorable catch-up deductions for you. Identify potential tax credit and incentive opportunities that you may have overlooked.
  • Education. Provide knowledge and resources needed to keep your fixed asset records in line with ever-changing policies.
  • Compliance. Correct lives, methods, conventions, and special depreciation allowances (bonus depreciation).
  • Asset Retirements. Get abandoned assets off the books to reap the remaining deductions and potentially reduce your ad valorem taxes.
  • Asset Management. Determine your current and future fixed asset reporting needs.
  • Capitalization Policies. Craft new or modify existing policies to help maintain appropriate fixed asset records and capture the benefits going forward.

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