Real Estate Taxes
The hospitality industry has seen growth in demand and supply in the last few years. Keeping your properties in top condition to conform to “corporate flag” standards takes energy and money. That means lowering your state and local tax burden probably isn’t at the top of your To Do List. But that’s what we do all the time – we lower taxes.
Sales and Use Taxes
If you own hotels in several states, you don’t have to pay sales tax when you purchase “amenities”. Which states? What are all the items considered to be amenities? What other exemptions are available for hotel owners? If you don’t know the answer to these questions, it’s time for a sales & use tax review. We ensure that you won’t underpay, and won’t overpay, saving you money.
Personal Property Taxes
Although personal property taxes are often not a significant cost for most hotels, there are still potential savings opportunities through personal property analysis. Most states have a single form that applies to all businesses and does not specifically cater to the hospitality industry. The Brennan Group’s analysts know the exemptions and most advantageous classifications and can complete your personal property declaration to keep your valuation low, and your taxes lower