Personal Property Tax Compliance Services From Lecg Smart Nl [Retail] 04 07 10


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Personal Property Tax Compliance Services From LECG-SMART

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Personal Property Tax Compliance Services From Lecg Smart Nl [Retail] 04 07 10

  1. 1. LECG/SMART Personal Property Tax Compliance Services A global expert services company providing expert testimony, authoritative studies, and strategic advisory services to clients including Fortune Global 500 corporations, major law firms, and governments worldwide.
  2. 2. 2 Personal Property Tax Compliance Services p y p Transition Use of our Transition Project Plan (TPP) that specifically focuses on: Data Source Analysis Work Process Analysis Terminology Review TPP is a comprehensive guide to the overall transition that includes: Established and definable timelines Communication protocol Separation of tasks Gathering Data Data request issued based on TPP timeline Creation of client-specific enterprise of PTMS Review & verification of imported data with client to ensure accuracy & completeness 24/7 secure, web-based access to returns and tax bills and secure data uploads through STO
  3. 3. 3 Personal Property Tax Compliance Services p y p Rendition Preparation and Filing Analysis of fixed asset classification Taxable vs. Non-taxable determination vs Abatements, Exemptions, Obsolescence, Special treatment of assets Inventory Exemptions Ghost asset studies Fixed asset revaluation and reclassification studies Valuation Notices Process and post valuation notices Contact tax assessor for missing valuation notices Analysis of valuation notices vs. threshold tolerances
  4. 4. 4 Personal Property Tax Compliance Services p y p Appeals / Audits Resolve valuation notice differences with tax assessor informally Respond to tax assessor inquiries for additional information & resolve audit differences with the tax p q assessor/auditor, informally Additional representation on formal appeals and audits Tax Bills Process and post tax bills Contact tax collector for missing tax bills Generate tax bill check request report Direct Payment of Tax Bills Use of individual client bank escrow accounts Monthly bank reconciliations Timely payment of all tax bills to taxing jurisdictions
  5. 5. 5 Property Tax Management System ( p y g y (PTMS) ) LECG-SMART exclusively uses Tax Compliance, Inc.’s , Property Tax Management System (PTMS), the most powerful and industry-leading property tax software. Clients also have 24/7 access to returns and tax bills through our secure, web-based property tax portal, SMARTaxOnline (STO).
  6. 6. 6 Property Tax Management System ( p y g y (PTMS) ) Tax Calendar A sophisticated, easy-to-use tax calendar notifies LECG-SMART of pending deadlines to facilitate timely compliance and prevent late fees and interest charges. Instant Data Access and Manipulation PTMS offers advanced sorting and filtering features to give you instant access to your data. PTMS keeps a year-by-year history of all property and automatically tracks asset year by year additions, deletions, and address changes. Asset Reclassification With PTMS, LECG-SMART can easily find and “fix” incorrectly classified assets to ensure proper depreciation/valuation which translates directly to lower tax bills depreciation/valuation, bills. User Defined Asset Valuations Up-to-date depreciation tables for local jurisdictions are included with PTMS. In addition, PTMS allows LECG-SMART to create and use its own depreciation tables to more accurately reflect the fair market value of your assets.
  7. 7. 7 Property Tax Management System ( p y g y (PTMS) ) Ghost Assets Identified PTMS filters allow LECG-SMART to exclude from your tax returns those assets that are retired but still in your fixed asset database. Ensuring you pay no tax on assets you no longer have. Overvalued Assets Identified PTMS calculates and compares LECG-SMART’s opinion of the taxable value of your assets with the assessed value returned from the assessor’s office. PTMS automatically alerts LECG-SMART to assessor s LECG SMART any overvaluations by the assessor. Tax Estimates and Accruals PTMS calculates tax estimates based on the projected assessed value of your assets for easy, precise accruals accruals.
  8. 8. 8 Client Experience p Types of Clients Industry Specialization Large domestic and g Leasing g multi-national companies Insurance and Financial Middle-market companies Services Closely-held and Retail family-owned businesses Healthcare Start-ups of all sizes p Life Sciences – Biotech/ Pharmaceutical Manufacturing
  9. 9. 9 Selected Property Tax Client Experience p y p Ace Hardware Linens-n-Things Aramark LVMH – Moet, Hennessy, Louis Vuitton Ball Horticultural Company National Envelope Bally Total Fitness New York & Company Best Buy Olympus Circuit City Siemens CoActiv Capital Partners Trans World Entertainment ConocoPhillips Tween Brands DEB Shops ULTA Cosmetics Dollar Tree Stores Unisys First American Equipment Finance United Retail G Group, Inc Helzberg Diamonds United States Cold Storage Limited Brands WMS Gaming
  10. 10. 10 Property Tax Client References p y Mr. Michael Butler Mr. Nicholas C. Atocha Director, Property/Sales & Use Tax Director of Tax Limited Brands, Inc. Louis Vuitton North America Three Limited Parkway 625 Madison Avenue, FRNT 3 Columbus, OH 43230 New York, NY 10022 614.415.4048 212.931.2177 Ms. Sue Hom Ms. Lisa McCoy Director of Tax Director of Taxes New York & Company Dollar Tree Stores, Inc. 450 West 33rd Street 500 Volvo Parkway New York, NY 10001 Chesapeake, VA 23320 212.884.2130 757.321.5324 Mr. Lonnie Lawton Ms. Lu Murphy Chief Financial Officer Senior Director, Sales & Local Tax Helzberg Diamonds g Bally Total Fitness Corporation y p 1825 Swift 8700 W. Bryn Mawr Avenue North Kansas City, MO 64116 Chicago, IL 60631 816.627.1282 773.399.7665
  11. 11. 11 SALT Client Recognition g SMART has been preparing our sales and use tax returns Helzberg Diamonds has enjoyed a business for over four years now, and I want to take a moment to relationship with SMART for the past 25 years. thank the entire SMART Compliance Team for all you do SMART provides Helzberg Diamonds with a full service property tax compliance program and also behind the scenes to take the detailed tasks required assists us with tax planning for our new stores We stores. each and every month and produce such high quality y p g q y have been extremely satisfied with the quality of the work. For the many returns that get prepared and sent by service that we have received from SMART and the SMART, we get very, very few notices from any state. We professionalism of the individuals that we have dealt are grateful for the service you perform on our behalf and with. We have also been very pleased with the fact look forward to next year. that our account has been serviced by a very stable staff over the past few years. The individuals on the Jeff Mastin, Tax and Risk Manager SMART team who service our account, have many Welch Allyn, Inc. years of experience in the business and are very knowledgeable concerning the various states in which we operate. SMART has also been very proactive in maintaining the latest computer technology available AIG has used SMART to prepare amended state income and does an excellent job of keeping us advised of tax tax returns related to federal tax audits for five closed tax law changes and the most advantageous position for years. years In the process of selecting a vendor to perform this our company to take in regards to those changes. service, we met with three of the Big Four firms, SMART, and Jefferson Wells. In addition to the obvious reduction I would highly recommend Smart and Associates to in fees between the Big Four and SMART due to the any company who has a need for a very difference in business models, we were also impressed knowledgeable, professional and service-oriented by the professionalism and approach that SMART brought p p y property tax compliance provider. p p to the table table. Lonnie J. Lawton James R. Gruber CFO American International Group, Inc.
  12. 12. 12 How We Differentiate Ourselves Experience Significant Managing Director/Manager touch on all engagements Well-developed skills in process & technology with extensive experience in property tax policy policy, valuations & appeal procedures SAS 70 Type I and II Certification Organizations displaying only the Type I review, show that they have internal controls in place. Our Type II certification means that our controls have been tested and are working as designed. Best-In-Class Process A mature, robust property tax outsourcing methodology that has been refined and field-tested with our significant base of demanding clients
  13. 13. 13 How We Differentiate Ourselves Premier Technology LECG-SMART exclusively uses Tax Compliance Inc.’s, Property Tax Management System (PTMS), the most powerful and industry-leading property tax software industry leading 24/7 secure, web-based access to returns and tax bills through SMARTaxOnline (STO) Smooth Transition A streamlined transition approach that minimizes disruption of client operations and delivers an immediate focus on communication, relationship building, and value Attractive Fee Structure A comprehensive fee structure that details all activities No “hidden fees”
  14. 14. 14 State and Local Tax Services Personal Property Tax Compliance Personal Property Tax Consulting Real Estate Tax Consulting Sales and Use Tax Compliance Services Sales and Use Tax Consulting State Income/Franchise Tax Compliance State Income/Franchise Tax Consulting Tax Technology Consulting
  15. 15. 15 About Us In March 2010, LECG, LLC (XPRT:NASDAQ) and SMART Business Consulting and Advisory, LLC merged. The combined LECG/SMART is a global expert services and business advisory firm with more than 1,100 professionals in 39 offices worldwide. Our clients include Fortune Global 500 corporations, major law firms and local, local state and federal governments and agencies worldwide worldwide. LECG/SMART has experience in consumer products, energy, entertainment, media and sports, environment and natural resources, financial services, healthcare and life sciences, insurance, petroleum and chemicals, professional services, real estate, telecommunications, and transportation.
  16. 16. 16 Who We Are Litigation, Forensics & Finance Advisory Services Bankruptcy & Restructuring Forensic Accounting Finance, Valuation & Damages Insurance Claims Intellectual Property Legal Technology & Analytical Consulting Economics & Dispute Resolution Antitrust & Competition Policy Economic & Financial Regulation International Arbitration Labor & Employment Securities Litigation Consulting & Business Advisory Actuarial Services Executive Solutions Financial Solutions Fi i l S l ti Outsourcing Solutions Compensation & Benefits Consulting Technology Solutions Governance Assurance & Tax Audit & Attest Services (through SMART and Associates, LLP) Internal Audit & Risk Management International Tax Federal Tax State & Local tax
  17. 17. 17 Our Global Footprint p Global resources to serve large multinational clients International infrastructure optimizes experts’ skills and income potential
  18. 18. 18 Contact Information P.J. Olzen, CMI Ted Kolman, MBA Managing Director Senior Manager 847.558.5679 972.668.3704 p @ g @ g James Petersen, CIAO John Langman Director Senior Manager 847.558.5680 847.558.5681