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BUSINESS PERSONAL PROPERTY TAX
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Why Is Personal Property Valued? There are a fairly consistent set of reasons people require valuation of business personal property including: Accounting / depreciation Impairment of value Casualty loss Business valuation Business dissolution Divorce Estate taxes Property taxes
Methods For Valuing Personal Property There are three primary approaches. Those approaches are used for valuing real estate, businesses and personal property.
Cost Approach Income Approach Sales Comparison Approach
Valuation Of Personal Property The process of allocating the portion of capital assets expensed over time is largely a ministerial process. While the primary depreciation process uses IRS schedules, there are options and requirements for obtaining additional depreciation, such as the follow:
Cost Segregation
Impairment of Value
Measuring Recoverable Amount
Fair Market Value
Recognizing and Measuring an Impairment Loss
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