COMPLIANCE

For an annual fixed-fee, UPTG manages every aspect of filing the necessary paperwork or renditions. We have the latest software and are one of the few firms using a fully automated system for property tax filings. Because we invested in this proprietary filing system, we save our clients not only tax dollars, but man hours as well.

Here’s a closer look at our compliance process.

Classifying Assets
UPTG carefully studies your assets at each location, ensuring each is classified properly. Understanding property tax law is crucial. We pay close attention to the varying guidelines from state to state so maximum tax advantages can be achieved. Just because an asset is on a 7 year life, doesn’t mean it should depreciate at that pace. And just because some have longer lives by IRS standards, doesn’t mean they are the same for property taxes purposes. Often times we can accelerate the depreciation schedules for certain assets. Our automated system allows us to create sub-asset classes so that we can classify your assets in the most efficient and effective way possible.

Determining taxable and nontaxable assets
Many state guidelines deem certain capitalized assets as nontaxable. Again, our expertise shines a light on every opportunity for tax exemption. With tax laws varying from state to state, we find opportunities from areas that are not black and white. For example, we often successfully argue certain leasehold improvements are not taxed as tangible business personal property—but rather as part of the real estate. Other grey areas include installation costs from phones, computers and computer cabling.

Following up with the Assessors
UPTG is proactive before property tax returns are filed. Regardless of the state, UPTG communicates with the assessors office regarding our approach to filing renditions. We explain how we intend on classifying the assets, and why various methods were chosen. Once the returns are filed, we follow up with each assessor to determine if he/she needs further information. This is an area where UPTG will again be proactive. We will not wait for the assessor to come to us. We go to them.