Fixed Assets are often a significant expense for a company. However, effective management of fixed assets often does not mirror its importance within the capital structure. As such, companies routinely overpay on their property tax and under depreciate their fixed assets for federal tax depreciation. Complex state and local statutes and confusing federal legislation compounded by a lack of manpower exacerbate the situation.
Companies that take a proactive approach to fixed asset depreciation and property taxation, maximize the overall return on their fixed assets. Proper classification and proper asset lifing are the two mainstays of effective fixed asset management. Fandl’s fixed asset specialists focus on assisting companies by generating tax savings by reducing real and personal property tax assessments.