Sales & Use Tax
TAG'S Sales/Use Tax Team offers solutions to transaction-based tax problems. Many companies are often faced with time consuming sales/use tax administration issues and inadequate manpower to properly address tax requirements. Our highly experienced sales/use tax professionals focus on providing clients with solutions to minimize sales/use tax errors and inefficiencies.
TAG's Sales/Use Tax Services are based on years of successful results, working with a multitude of sales/use tax systems and processes to define the best methodology for providing solutions that meet client needs. TAG will work with you to address your concerns and develop an approach and solution customized to each client's unique circumstances.
TAG offers the following services in support of client needs:
- Transaction Reviews
- Audit Defense
- Audit Management
- Policy and Procedure Reviews
- Nexus Studies
- Certificate Management Program
- Canadian Tax Services
Personal property tax renditions are often overstated, costing businesses thousands of dollars in overpaid property taxes. TAG can manage your fixed asset lists to minimize your tax burden and relieve your business of potential tax liability increases. Our tax consultants keep their fingers on the pulse of each state's filing requirements and depreciation schedules.
TAG represents a diverse portfolio of national clients of all sizes in all business sectors. Local and national clients with commercial, industrial, manufacturing, retail, hospitality and distribution properties represent just a few of our industry engagements.
In an effort to reduce your personal property tax liability, TAG offers customized tax minimization programs designed to meet your specific needs.
Services provided include:
- Tax Minimization Programs
- Audit Defense
- Consulting and Analysis
- Strategic Reviews
- Tax Bill Management and Processing
- Ghost Asset Studies
Tax Incentive Studies
In order to attract and retain business investment within their jurisdictions, many states provide various incentives to business. These incentives vary from state to state and even within states. Many businesses are unaware that these incentives exist or do not have the manpower to pursue these benefits.
The types of incentives generally include credits for hiring additional employees or employees from certain defined classes, tax credits for new investment activities, including property tax and sales and use tax exemption for certain property and preferential depreciation for certain property.
TAG has the knowledge and expertise to identify the various incentives available and to determine if a company qualifies for the benefits of those incentives. We can assist in gathering the documentation necessary to file claims as well as managing the claims process through final approval.
Cost segregation is a highly beneficial and widely accepted tax planning strategy utilized by commercial real estate owners and tenants to accelerate depreciation deductions, defer tax, and improve cash flow. Once used only by big-4 type accounting firms and the nation's largest real estate owners, this practice has become routine for commercial property owners of almost every size.
A cost segregation study (CSS) is based on a detailed engineering analysis that is used to support the acceleration of depreciation deductions by identifying costs that can be allocated to shorter recovery periods; primarily 5, 7, and 15-year, as opposed to 27.5 (residential rental) or 39-year (commercial). A quality study provides the documentation needed to defer substantial tax payments and greatly improve cash flow. It is important to note that a cost segregation study does not create new deductions, but increases deductions in the early years of ownership. This front-loading of depreciation allows the taxpayer to take advantage of the time value of money.
Real Estate Services
TAG, through its national network of Real Estate professionals, can provide abatement services throughout the country. TAG will perform real property valuations, in an effort to determine whether a client's property has been fairly assessed, over assessed, or under assessed. If it is over assessed an appeal will be filed, then discussions will take place with the assessor from the taxing jurisdiction to determine if an agreement on the valuation can be reached.
TAG also offers Portfolio Management services where a database of the clients real property portfolio will be constructed and at the same time, the data will be reviewed annually for value accuracy and tax bills can be approved for payment.
Services provided include:
- Portfolio Management
- Lease Audits
- Database Management
- Market studies
- Tax Minimization programs
- Value analysis
- Tax Bill review and payments
- Tax Bill approval
TAG can assist in analyzing a company's business practices and procedures to ensure that they are properly registered in all jurisdictions where they may have established Income or Sales and Use Tax nexus. In the event that the company may have nexus in certain jurisdictions which results in past unreported and unpaid taxes, TAG professionals have the expertise to negotiate settlements with the taxing authorities to ensure that all potential outstanding liabilities are settled in the most cost efficient manner possible. If you would like additional information on any of the services listed please contact us.