Services

Tangible Asset and Repairs Analysis

Advanta’s Tangible Asset and Repair Analysis (TARA) offering is our response to the new set of tangible property rules that are now in effect for tax years beginning 2014. Our TARA service is customized to meet a taxpayer’s unique needs. Our team consists of leading accounting methods and cost segregation professionals with deep technical expertise and practical client service experience.

Our process is flexible and solution driven to ensure tax benefits are captured and compliance with the complex rules is accomplished. We utilize our proprietary toolkit and templates to provide timely and efficient service delivery.

This tailored service may include:

  • Gain an understanding of business operations, units of property and current accounting for fixed assets and various related accounts
  • Determine areas of focus considering opportunities for tax savings and compliance requirements, including:
    • Costs to repair or maintain property
    • Costs to improve property
    • Costs to acquire or produce property
    • Costs to purchase materials and supplies
  • Dispositions of property
  • Analyze and quantify differences between current methods and new methods of accounting
  • Prepare Form 3115, Application for Change in Accounting Method
  • Quantify Internal Revenue Code Section 481(a) adjustment