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Prism Insurance Agency in Moreno Valely, CA has launched a new hotel and motel cost and tax reduction strategy service for clients looking to improve their bottom line. It highlights the benefits of three main tax incentives for hotel and motel owners, and how clients can save money.
More information can be found at: https://myprisminsurance.com/blog/hotel-and-motel-cost-reduction-and-tax-strategy-report.aspx
The new report explains that hotel owners have three major tax incentives available to them, however most don’t take advantage of this.
Consequently, many hotel and motel owners are losing money where they don’t have to. The team at Prism Insurance Agency explains that the three main areas where hotel owners are missing out are the Engineering-based Property Cost Allocation program, the Energy EPAct, and the Property Tax Reduction program.
Alongside this, there are hundreds of other tax incentives as well as cost reduction strategies available to the hospitality industry.
One of the benefits of working with Prism Insurance Agency is that they can help clients to determine where they’re missing out. By entering their details in the form provided, hotel and motel owners can sign up for a free report. This provides detailed insights into cost analysis and where savings can be found.
Prism Insurance Agency is dedicated to helping clients reduce costs wherever they can. They can also help clients to mitigate financial risks and plan more efficiently.
The first program identifies opportunities for federal and state tax advantages to owners of commercial and industrial real estate. It helps by accelerating the depreciation on their property.
The second program is available for energy efficiency items placed in service after January 1, 2006. Anyone who has upgraded lighting, HVAC, or any part of the building with energy efficient items can be eligible for a deduction.
Lastly, clients can reduce the amount of property tax they pay. Studies show that most hotels in the US are overcharged by 15% on their property taxes.
The team states: “If you have not had a thorough review on your facility, especially as it relates to the areas of Property Cost Allocation, Energy, and Property Tax Reduction, you are likely losing money that should remain in your pocket.”
Full details of the new service can be found on the URL above.
Release ID: 88951478