We want to ensure our clients pay only the legal minimum amount of tax. Our analysis begins with a review of the fixed asset records and a physical inspection. We then identify and segregate intangible and tangible costs from the capitalized cost of the assets and correctly classify assets in order to achieve the most favorable tax treatment. We also determine whether the market value assigned by the assessing jurisdiction accurately reflects the fair market value of the assets. If warranted, we will file an appeal or amend previously filed personal property statements, managing the process from beginning to end.

One of our most successful engagements with Diversified Property Solutions was an asset tagging project. The DPS team worked with all levels of personnel at our facility to identify our high-value assets and reconcile our fixed asset register. Their systematic approach and industry expertise generated the documentation necessary for review by local and State officials. The benefits were two-fold. In the short term, we recovered significant personal property taxes for previous years’ overpayments and saw a net positive impact to our bottom line. In the long term, our bar coded assets and new procedures for asset acquisition and disposal keep our fixed asset register and personal property tax liability accurate.

David Hilbrandt, Controller, SMR Automotive Systems USA Inc.