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Property Tax Outsourcing Services

Why Should My Company Use Property Tax Outsourcing Services?

Your company has likely been outsourcing a variety of internal services for years: security, catering, shipping, printing and other services related to corporate infrastructure. Many companies are now finding it advantageous to outsource corporate financial activities such as the preparation and filing of their property tax returns.

Property Tax Outsourcing Is More Cost Effective

While your company may employ one in-house tax or accounting expert, a property tax outsourcing service provider can offer a widespread – often national – network of resources. Cherry Bekaert has access to new, automated property tax compliance systems that make processing your returns fast and efficient. These systems also allow your company to track assets better.

While outsourcing still requires someone from your company to manage this often sophisticated business relationship, it can result in better service and access to greater resources.

Better Use of Your Resources

Property tax returns are subject to an endless array of filing deadlines. From January to June, there are state, county, and city-level deadlines. Hiring a Cherry Bekaert property tax expert to prepare and file your returns frees up staff to focus on the essentials: carrying out your core mission and making your company profitable.

Assists in Risk Management

Property tax outsourcing services also gives you the peace of mind that another set of eyes is looking at your taxes. You can feel confident knowing you’ll be in compliance with all city, state and county rules – rules that most companies do not have the time nor the resources to devote to “keeping current.”

Can Help You Realize Tax Savings

Many companies inadvertently overpay their property taxes. Unless someone discovers the underlying causes of the overpayment and works to correct those issues, you may lose out on tax savings that directly affect your bottom line. Our property tax outsourcing experts will look for those savings. They will remove nontaxable items and evaluate the classification of assets on your tax returns to achieve the most favorable treatment possible. These savings, which can be substantial, are also an annuity for the future, providing a benefit year after year.

Can Streamline Your Entire Tax Process

Using outside experts to prepare your property tax returns also affords the opportunity to take advantage of other related services. For example, if your company outsources, you may also need help with budgeting, as it relates to taxes. The service provider you choose essentially becomes your corporate tax department, offering advice on a variety of interrelated tax matters.

When considering whether or not property tax outsourcing services are right for your company, remember that outsourcing has benefits far beyond the obvious efficiencies of resource management. It can minimize your compliance risks and help you realize bottom-line tax savings.

Contact Our Property Tax Team

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Louis Cole

Partner, State & Local Tax Leader

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