It's important to make sure the personal property you list and report to your local government each year is actually something your company owns and uses. If you've sold or donated any pieces of equipment, be sure to remove these items from your personal property total. This way you won't end up paying personal-property tax on things you no longer own. (For more details on strategies for reducing your personal-property tax, see No Trespassing.)
Doublecheck Your Company's Records For Tax Savings
Are you paying taxes on property you no longer own?