Fixed Asset Issues

Are you carrying assets on your books that you long ago got rid of?  This is potentially a double-whammy.  If you dispose of an asset, you can write off the remaining tax basis for a loss on your tax return.  Also, you can remove the asset from your business property tax roll.  If you are carrying a large number of disposed assets, this can add up to a fair amount of dollars going to the government instead of in your pocket.

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