Business Personal Property Opportunity Review
Are you overpaying your property taxes? Properly classifying property as either personal property or real estate could significantly impact your overall property tax liability. Without a complete physical inventory of personal property each year, a company may be unknowingly overpaying tax on property that was disposed of or transferred to other locations. Schenck’s State & Local Tax team can assist your business with properly classifying property for property tax purposes, identifying reported assets no longer held by your company, ensuring that leasehold improvements are not being double taxed as personal and real property, and determining if all exemptions available are being used.