December 7, 2017
PREPARING YOUR MICHIGAN PERSONAL PROPERTY RETURN
In order to benefit from the phase out of personal property taxes in 2018, you must file your return timely! The deadline to file Forms #5278, #3966, and #5467 is Tuesday, February 20, 2018. There is a chance that a change in law will allow for a postmark of February 20 to be acceptable, but it is never too early to plan ahead.
Don’t get caught unawares! Be sure that you have all of your Form 5467s lined up with your leasing companies, as well as tracking your new used equipment purchases on a Form 3966. Include copies of your abatement certificates with your Form 5278s, and make certain they are extended if all of the abated personal property is not yet eligible for ESA. Do not miss out on this tremendous tax savings opportunity by not maximizing your benefit!
Before making any costly mistakes, call Valu Tec to guide your through the process with little time and effort on your part.
Have a great and prosperous year! tony