Are you spending too much time gathering and manipulating data? Is your company taking all available income tax deductions? Would you be more aggressive with your tax strategy if you knew you could defend it? Are you using tax as a strategic lever with mergers and acquisitions?
PowerPlan’s enterprise platform provides tax departments with better insight into detailed asset information, allowing them to improve strategic tax planning, withstand a stringent audit and optimize financial performance.
Improve Strategic Decision Making
PowerPlan allows tax executives to run multiple scenarios to analyze how decisions affect asset valuations and deductions. This insight helps improve overall corporate decision making and optimizes reporting to all stakeholders, including the Street.
Mitigate Compliance Risk
Without knowing when an asset went into service, when it was retired or what costs should be allocated to maintenance versus capital expenses, the tax team cannot fully leverage deductions available to the company. PowerPlan automatically captures and stores asset data, giving companies complete visibility into the underlying detail and providing the support necessary to defend the deductions.
Analyze Changes in Business Structure
When planning for a merger or acquisition, tax departments need extensive insight into assets on the books in order to calculate the financial impact of these deals. This is especially true for companies that have restructured or are considering restructuring to a Master Limited Partnership (MLP) where acquisitions are the primary growth driver. Because PowerPlan delivers extensive visibility into the asset base, companies are better able to project ROI and to manage the complex tax filings associated with these changes.
Generate Tax Savings
By choosing PowerPlan, companies have:
- Generated 100 million of cash flow savings by being able to take a better advantage of the tangible property regulations. Uncovered 10 million in additional deductions that were not visible previously
- Reduced reporting of complex partnerships from six weeks to a few hours