Doublecheck Your Company's Records for Tax Savings

Be sure you still own what you're claiming.
1 min read
Opinions expressed by Entrepreneur contributors are their own.

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.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur

Entrepreneur Media, Inc. values your privacy. In order to understand how people use our site generally, and to create more valuable experiences for you, we may collect data about your use of this site (both directly and through our partners). By continuing to use this site, you are agreeing to the use of that data. For more information on our data policies, please visit our Privacy Policy.