Skip to main content

Tangible Personal Property Tax Payment Deadline December 31st, 2021

Tangible Personal Property Tax Payment Deadline December 31st, 2021

Property taxes that are paid by December 31 received a 3% discount of the total taxes due.

Other discounts for early payments are as follows:

- 2 percent discount if paid in January

- 1 percent discount if paid in February

- Any equipment, fixtures or furniture used in a business or for a commercial purpose

- Leased equipment

- Furnishings and appliances in a rental property, owned by the real property owner

- Any attachments made to a mobile home or manufactured housing in a rental park

Business Tax Preparation of Tangible Property Taxes

All businesses are required to file a Tangible Personal Property Tax Return if you own personal property. Hire a tax preparer for peace of mind.

Our firm can assist you identifying all assets,  estimate the fair market value, prepare the depreciation schedule and complete your business tax return.  Additionally, we will keep timely, accurate records if you sell your business, go out of business, or move to a new location.


https://pasfirm.com/2021/12/06/tangible-personal-property-tax-payment-deadline-december-31st-2021/

Comments

Popular posts from this blog

Deduction of Business Meal Expenses for 2021 and 2022

In this article, we have explained the terms for the deduction of business meal expenses for 2021 and 2022. Pandemic had a drastic impact on all the businesses and companies across the globe. However, the worst impact was on the companies that handle the food services. As a result, a large number of businesses saw closure in the United States.  To help the rocking food industry, the Consolidated Appropriations Act (CAA) came into existence in December 2020. It provides quick economic assistance to struggling restaurants and their families. The CAA enables the tax-paying individuals to deduct 100% of the cost of business-related meal expenses incurred at restaurants in the years 2021 and 2022; Meals includes both beverages and food given by the restaurants.  Previously, it was only possible to deduct the cost of business meals to only 50% of the total cost.  IRS guidance in Notice 2021-25 defines “restaurants” that will come under the tax break. The term will include those businesses th...

Difference Between Bookkeepers And Accountants

Bookkeepers and Accountants work in the same field and deal with the same set of information. They have the same goals while working for a company and support it at different levels. In simple terms, bookkeeping is more of administrative work, while accounting is more of an analysis and subjective work. Nowadays, almost every business needs a bookkeeper and accountant. The need for an accountant is not much in small companies, but it is a must when it comes to the bigger ones. On the other hand, bookkeepers are mandatory in every business, whether they are big or small. Sometimes people use the terms bookkeeping and accounting interchangeably, but as a business owner, you must know better. While bookkeeping is an essential part of accounting, accounting is broader. In this blog post, let's find out how you can differentiate between the two. Also Read: What Is Virtual Bookkeeping What Is Bookkeeping? Bookkeeping is the act of recording daily transactions and keeping them togethe...

How Much Does A Bookkeeper Cost?

Wondering how much does a bookkeeper cost? Let’s find out. It is not an easy task to manage your business- it requires a lot of hard work where you have to closely manage your inventory, employees, and the ever-growing client base at once. In this ever-ending struggle, the most important task that should not be sidelined is the handling of the company’s financial accounts. To make sure you do not miss any transactions or make an error, it is essential to hire a bookkeeper or an accountant to handle your business. This will make sure that all your financial transactions are correct, which will go a long way to save up on taxes and lots of stress. Bookkeeping will help you make your business more efficient and in turn, it will improve the revenue and growth of your company. If you decide to hire a bookkeeper for your business, you have two options- hire an in-house bookkeeper, or outsource the bookkeeping. Choosing either of the two is an important decision to make and requires a lot of ...