Tax professionals navigate the complexities of property taxes to help achieve savings.
Taxes on tangible personal property represent a significant portion of a business’s state and local tax obligation.
Navigating the various tax rules and filing requirements associated with personal property tax across multiple state and local taxing jurisdictions can be overwhelming and cause a heavy administrative burden for businesses. Asset classifications and depreciation schedules are not always consistent and can change depending on the state, adding to the confusion.
All in all, the complexity of personal property tax often results in taxpayers over reporting and overpaying their tax liabilities.
Wipfli can help. Our seasoned property tax professionals bring a deep understanding of tangible personal property tax and have developed a comprehensive process to help you manage your tax obligation, minimize your tax liability with common-sense reporting and take advantage of statutory exemptions.
By developing a custom solution for your business, we help relieve any burden on your internal resources. We offer the following specialized services:
- Fixed asset classifications
- Exemptions review
- Ghost asset identification
- Proper valuation
Contact us to learn more or get started.
Featured Thought Leader
Tara T. Johnson
Tara Johnson B.A., B.S. is a Senior Manager in the firm’s state and local tax practice. Tara has over 17 years’ experience in public accounting and assisting clients in a variety of industries with federal, state and local compliance. She currently focuses her time in the spaces of property tax and sales/use tax.
Keela Ross is a director within the state and local tax group and has over 17 years of experience in providing tax consulting and compliance services. She began her career in personal property tax compliance and valuation and quickly expanded her expertise into the areas of unclaimed property and sales and use tax consulting and compliance.