Why Is Personal Property Valued?

www.poconnor.com

BUSINESS PERSONAL PROPERTY TAX

Ta x R e d u c t i o n E x p e r t s

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

To Know More About Business Personal Property Tax, Reach us today www.poconnor.com

Ta x R e d u c t i o n E x p e r t s