Fixed Asset Capitalization Review

Fixed Asset Review

Companies who own a wide range of fixed assets spend more time capturing, validating, reporting and reconciling fixed assets and related depreciation data. Every company has unique assets and it is a challenge to keep up with changing tax rules.

At National Cost, our professionals will help to classify your assets to maximize tax deductions now and in the future. We will lend you a hand to take proper steps to implement the new regulations to your advantage. All of our approaches focus on reducing the impact and costs associated with completing a fixed asset review. We can help companies of all sizes and industries to achieve greater tax efficiency.

Discover tax benefits within your fixed assets

National Cost’s fixed asset consultants follow a multidisciplinary approach to take care of the difficulties companies face and to find out potential tax benefits within the fixed asset record.

Our fixed asset review includes all required IRS documentation as per guidelines including technical memos, supporting case law, detailed schedules of assets, and cost records for reclassified property. We make sure all your assets are accurately classified in order to perfectly optimize your tax savings.

Fixed asset review services we offer include:

  • Capital vs. Expense review
  • Cost segregation study
  • Partial depositions
  • Structural composition disposition studies
  • Reverse sales and use tax review
  • Placed in service date verification
  • Fixed asset depreciation review
  • Ghost asset identification
  • Bonus depreciation review
  • Tenant allowance review
  • Construction in progress account review
  • Energy efficient building systems analysis
  • Fixed asset database management and reconciliation

Who qualifies for a fixed asset review?

You may qualify for a fixed asset review if you are:

  • A company that has real estate holdings
  • A company that renovates or expands regularly
  • A real estate investor

Assets that qualify for a review

A fixed asset review estimates a company’s fixed assets and identifies items that have shorter depreciable lives. Some of them are:

  • Roofing and parking lot repairs
  • Carpet replacement
  • Repainting
  • Equipment and building maintenance
  • Repairs due to weather accidents

Potential savings are still possible with tangible property regulations

Beginning 2014, all taxpayers with tangible businesses and investment properties must analyze their current accounting practices to make changes according to the new rules. As complicated as these new rules may seem, companies have to implement these new tangible property regulations. With time running out, companies must take the required actions to comply with the rules.

Our tax professionals at National Cost can help you analyze your current practices, assist with complex estimations, and give recommendations for future opportunities.

Why choose National Cost?

At National Cost, our tax professionals incorporate proven tax planning strategies, work with cost estimators, and engineers to give you maximum benefit. You’ll get a detailed analysis from our knowledgeable professionals who are experienced to efficiently classify your fixed assets as per the law. We also have hands-on experience on various accounting software platforms to employ the results effectively.

If you’d like to get a better idea of what we can do to maximize tax benefits from your fixed asset, contact us today.