(Source: Business Wire)
General Data Company, Inc. (www.general-data.com) has announced the formation of a new full-service professional tax consulting business unit. This unit will operate under the name General Financial and Tax Consulting, LLC, and will offer a line of tax services designed to assist companies decrease taxes, improve cash flow and increase their bottom line. Their services provide comprehensive fixed asset inventory accounting solutions that help companies correctly recognize, classify, capitalize, depreciate and reconcile assets within their facilities.
General Financial and Tax Consulting is positioned to focus on four areas: fixed asset inventory accounting, federal depreciation look-back analysis, personal property tax compliance and reduction of personal property tax assessments. The new business unit will service asset-intensive companies as well as service-oriented businesses, domestic and international companies with multiple locations/facilities, and any organization in need of assistance reconciling asset inventories and updating and maintaining record-keeping systems.
"At first glance, the connection with barcode and the financial and tax components may not seem like a natural fit, but bringing these two worlds together will create synergies and provide greater value for our customers," said General Data Founder and President Peter Wenzel. "Our new unit provides a new perspective on fixed asset tax review and internal costing, involving both operations/maintenance and tax accounting functions. In this economy, it is more important than ever to provide a broad spectrum of solutions for companies that enable them to save money and boost their bottom line, and now we have an even greater capability to provide this through a comprehensive solution."
General Data has added seven new experienced accounting and tax professionals to its staff of 170, located at its Union Township facility. Heading the new business unit is Dick Cunningham, who is nationally recognized for having more than 40 years of experience in asset recovery analysis and accelerated fixed asset depreciation in both real and personal property. Dick's prior experience includes managing the Cincinnati office of the Ohio Department of Taxation as well as senior executive tax management positions with General Electric Corporation and NCR Corporation.
"Making money and preserving cash is the business of stacking pennies," said Cunningham. "There are often discrepancies between physical asset inventories and ledgers. These differences, along with changing accounting laws, are costing companies money. We can help companies unify their asset inventory with their books, taxes, and maintenance logs. General Data's data collection component takes us to a whole new level of the money-saving data management we can provide."
General Financial and Tax Consulting, LLC can be reached at 1-800-733-5252 ext. 7000, or on the web at http://www.genfitax.com.
About General Data Company, Inc. General Data Company, Inc. is recognized as a premiere provider of innovative barcode identification and automated data collection products and solutions that enable organizations to streamline workflow, error proof processes, better manage critical data, and improve business-process accuracy, productivity and performance. Founded in 1981, General Data is a privately held company with headquarters in Cincinnati, Ohio USA. More information on General Data's products and solutions can be found at www.general-data.com.
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