Andersen Tax

Fixed Asset Review

The objective of the Andersen Tax fixed asset review is to maximize tax depreciation deductions and increase cash flow.

It is a challenge for companies to keep up with constantly changing tax rules and court cases that affect asset depreciation methods based on the classification of property. The analysis that Andersen Tax performs focuses on uncovering missed depreciation deductions and ensuring that these deductions are captured and taken into account on your company’s current tax return filing. In addition, a fixed asset review can help your company clean up its fixed asset ledger thereby helping to mitigate audit risks.

Andersen Tax’s professionals have in-depth knowledge of the tax laws in the area of fixed assets and are highly qualified in the areas of accounting methods, classification of tangible and intangible property, and tax treatment of tangible and intangible assets resulting from transactions such as acquisitions and reorganizations. Our professionals also have extensive experience working on federal and state tax audits as well as assisting clients with negotiation and issue resolution. Our approach focuses on minimizing the impact and costs of completing a fixed asset review. Some of the services we offer include:

Capital vs. Expense Review

An Andersen Tax capital vs. expense review can generate significant tax benefits by identifying, supporting and quantifying costs that were capitalized improperly for federal income tax purposes. This is done by identifying costs that can be expensed under final regulations effective in 2014. Our team can assist taxpayers in applying for a change in accounting method and taking the current year catch up deduction.

Cost Segregation Study

An Andersen Tax cost segregation study can generate significant tax benefits by maximizing the reclassification of real property to personal property. A cost segregation study can be performed for newly acquired real property, or for property that was acquired in prior years. The results of these studies can defer federal and state taxes, as well as increase cash flow. Our combined appraiser skills, accounting expertise, processes and tools ensure optimal results within existing tax rules. Our qualifications include the Senior Cost Segregation Professional (SCSP) designation of the American Society of Cost Segregation Professionals (ASCSP).

Partial Dispositions

When replacement assets are placed in service, Andersen Tax will analyze the opportunity to make a partial disposition election to write-off the remaining tax basis of property that was replaced in the current year. New regulations provide simplified techniques for calculating the amount of the partial disposition.

Ghost Assets

An Andersen Tax ghost-asset study can generate permanent tax benefits by identifying and eliminating ghost assets from your company’s fixed asset ledger, thereby reducing the values for property tax assessments and reducing the chance of over-insuring nonexistent property.