In my other life as a personal property auditor, I was constantly amazed that few business owners and even fewer CPA's had ever heard of business personal property tax. Most of the business owners I spoke with felt that since they paid sales tax on their assets at the time of purchase, that any additional taxation was essentially government greed. Soapbox alert: Business personal property taxes contribute to the bottom line of your local government(s). Unlike the complicated federal budget, local government budgets are much simpler to understand and to determine how money was allocated. It is also easier to hold local governments accountable for your tax dollars.
Have I lessened the blow yet? Good! This blog is all about personal property education, solutions, and strategies. We at Equity Tax Consultants appreciate all questions, feedback, or topic suggestions.
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