Business Property Tax
Business property and aircraft statements, filed right
We prepare and file your Business Property Statement (Form 571-L) and Aircraft Property Statement (Form 577) with the Los Angeles County Assessor, so you report accurately and avoid late penalties.
What we handle for you
✓ Business Property Statement (571-L)
✓ Aircraft Property Statement (577)
✓ Asset list matched to your books
✓ E-filing before the deadline
✓ Help with Assessor letters and tax bills
Led by an IRS Enrolled Agent.
Equipment & machinery
Computers, office equipment, tools and machines your business uses.
What it is
What counts as business property?
In California, the things your business owns or leases and uses to operate are taxed each year, separate from real estate. The Assessor values them as of January 1.
Inventory and real estate are not reported as business personal property.
Furniture & fixtures
Desks, shelving, signs and improvements you made to your space.
Leased equipment
Equipment you lease from others may also need to be reported.
Aircraft
Private and business aircraft are reported on a separate Aircraft Property Statement.
Aircraft owners
Aircraft property statements
If you own an aircraft, California requires an Aircraft Property Statement (Form 577) each year. The Assessor values aircraft as of January 1, and a 10% penalty can be added if the statement is not filed on time.
We gather the purchase details, upgrades and flight information the form asks for, and file it for you.
Aircraft we can help with
✓ Single and multi-engine piston planes
✓ Turboprops
✓ Helicopters
✓ Business jets
Key dates
Dates to remember
We track these for you every year.
January 1
Lien date. Your property is valued as of this day.
April 1
Business Property Statement is due.
May 7
Last day to file before a 10% penalty is added. If it falls on a weekend or holiday, it moves to the next business day.
How it works
Getting started is simple
1
Free 15-minute call
Tell us about your business, equipment or aircraft.
2
Send your documents
The Assessor's notice, your asset list or depreciation schedule, and last year's statement.
3
We prepare it
We match the statement to your books and remove assets you no longer own.
4
We file on time
We e-file before the deadline and send you a copy for your records.