Fixed asset and repairs services

Fixed asset income review

Many companies' fixed asset classifications are suboptimal due to to misclassification or case law changes, resulting in under-depreciation for tax purposes. Correct asset classification and depreciation timing can accelerate depreciation benefits in future years, and the accurate reporting of book-tax differences results in complete and accurate deferred tax basis reporting, leading to accurate filings and improved cash flow.

PricewaterhouseCoopers can conduct a fixed asset income review to help your company accurately manage its fixed asset depreciation and optimize your depreciation benefits.

Tax repairs analysis

Deductions may be taken for all the ordinary and necessary expenses paid or incurred during the taxable year in carrying on any trade or business, including that neither materially add to the value of the property nor appreciably prolong its life, but keep it in an ordinarily efficient operating condition.

PricewaterhouseCoopers can assist you with reviewing your current policies regarding how repair and maintenance costs are treated for federal income tax purposes, and identifying all available current year repair deductions.

PricewaterhouseCoopers can help by:

• Conducting a review of your property tax filings, fixed asset runs and property tax assessments to ensure the proper classification of your assets
• Ensuring that no "ghost" assets are on your books
• Improving the accuracy of your fixed asset records