Tax Reduction Strategies (TRS)

Personal Property Tax (“PPT”) reduction strategies are largely a back-office area for most companies

The 38 states that levy PPT each rely on their complex and unique statutes to confuse and confound even the most diligent corporate tax departments resulting, in many cases, to a gross overpayment in PPT. But with many years of experience in processing client PPT data, and the development of its own proprietary and customized software tools, Tax Reduction Strategies LLC (“TRS”) has demonstrated that creating a tax reduction strategy for its clients can result in significant and lasting savings.

We do this by capturing key data elements relating to PPT and comparing the descriptions and values to a set of tables defining the exceptions and exemptions in each state. Each asset record is examined this way, rather than by groups or categories of assets. We also look at the available tax depreciation tables in each state and ensure they are appropriate; we look at sales of assets to determine the usefulness of the formal NBV; and we look at some of the unique characteristics of assets for some of the more obscure exemptions.

WHY KRAUTER TRS?
Traditionally, internal tax departments of large corporations prepare the data for submission to a third party service provider for the actual filing. The data sent to the service provider is often “raw” and with only minimal assets (obvious exclusions) being filtered out. In some cases, companies rely on their service providers to filter out further assets from the render. In reality, however, service providers are far too busy filling out and filing the jurisdictional paperwork to pay too much attention to the quality of the data they are processing, and consequently filter out little or nothing further.

The result is that the client thinks that the service provider is removing assets that are unnecessary to render, while the service provider thinks the client already did that before they received the data. TRS works with the client without them having to change their way of doing things or overly impinging upon their time. We do this by intercepting the client data going to the service provider and running it through our own software, explaining to the client what we’re doing and why as we proceed. The service provider will then simply process what they are given – and do what they do best in the filling out of the forms.

MORE INFORMATION? CONTACT US.
For more information regarding specific advantages of the Krauter Tax Reduction Strategy Program, please send your request to info@krautergroup.com

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