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Robert Segal

Robert Segal

Bob Segal, President of Robert S. Segal, CPA PA, has over 35 years of experience in accounting and business. Founded in 1994, Segal CPA is the only North Carolina CPA firm that is dedicated exclusively to seeking out cost reductions and revenue opportunities without affecting personnel or the bottom line.

Three Revenue Generating Ideas for City and County Governments

Robert Segal,

153703349If looking for ways to generate money with existing property, sometimes the writing is on the wall.

Look for unconventional methods of using current property and assets.

This can prove lucrative with minimal effort and up-front cost. Kill two birds with one stone. Brainstorm potential alternatives for assets that are already in service, breathing new life into them and taking advantage of the property and resources already at your disposal.

Generate More Tax Revenue From Unlisted Property Today

Robert Segal,

462556355The process of generating tax revenue from unlisted property is relatively simple. It takes some time to discover the unlisted property, but the revenue potential trumps the time spent.

Typically, cities and counties require business personal property to be listed and assessed each year for property tax purposes. This responsibility for compliance (listing the property) falls on the shoulders of the owner of the personal property.

Revenue can be generated through unlisted property stemming from numerous basic items, such as registering a vehicle within the city. Once it is discovered that a business has unlisted property within the city, the government should start process to rectify the situation as quickly as possible.

Understanding Business Licenses Will Add Revenue to Your Bottom Line

Robert Segal,

154141152As you may have learned in one of my recent articles, businesses operating in a jurisdiction may be required to purchase a business or privilege license. This includes out-of-town businesses operating in the city, even if they don’t have a physical presence there. Meaning a business may not have an actual office in the jurisdiction, but the business operates in the jurisdiction regularly. Essentially, anyone engaging in business activities may be required to obtain a business license, whether or not a place of business is maintained within city limits.   One an unlicensed business is discovered, many local governments require the unlicensed business to purchase licenses for each period in which the business the operated inside the jurisdiction and may assess a late filing penalty.  Although as a government you require businesses to have a license in order to operate legally within your jurisdiction, it really goes beyond city hall. This fact should be included in correspondence with businesses when communicating the need to obtain a license. Customers expect that businesses will obtain the proper licensing required to do business and so should you.  Licenses are to be displayed in a public area so customers can confirm compliance.

The What and Why Behind Updating Business Licenses

Robert Segal,

GraphIf businesses are operating without a business or privilege license in your county or city, rectifying the situation could be easier than imagined – and prove to be the right move to increase your revenue.

As a local government, you probably require businesses to obtain business licenses not only to keep tabs on the businesses operating within your boundaries, but also to ensure that businesses whose activities place demands on infrastructure will share in maintaining basic services such as law enforcement and fire protection.

Are You Paying Someone Who Owes You Money?

Robert Segal,

There’s an old adage that the right hand doesn’t know what the left is doing. This is particularly true in local government. This department doesn’t know what this department is doing; that department doesn’t know who is delinquent on their taxes; this department doesn’t know that this vendor owes for back business license fees. What happens, more than local governments would like, is that the right hand is paying someone who owes money to the left.

Franchise Tax Revenue

Robert Segal,

US politician Edward J. Gurney once said, “The United States is the only country where it takes more brains to figure your tax than to earn the money to pay for it.” We have created quite the convoluted system, haven’t we! But sometimes, in the forms and filing requirements and technicalities, you can find good news. One such piece of good news: there may be a way to increase the franchise taxes you are currently receiving.

Local Governments Strapped for Cash

Robert Segal,

Well, that’s not exactly a newsflash! With the federal government perpetually in danger of falling off some fiscal cliff or another, it’s no surprise that local governments are also feeling quite a pinch. A lot of local governments have taken a beating over the last few years, and in an effort to continue to provide essential services, many have started eating into their fund balance. Is there a better way to make sure citizens are getting what they need while ensuring there’s a little more in the bank? You bet.

A Siloed Government Means Lost Revenue: Are You Paying Someone Who Owes You Money?

Robert Segal,

We recently asked 15 local governments the following question:

Could you be writing checks to someone that is delinquent and owes you money?

And all 15 replied that it was possible but…..

True story: We have a client which was going to purchase 6 patrol cars that evening during a Council meeting from a local auto dealership which had not purchased a business license from the town for the previous year.  We pointed this out to the town manager.  Once the town manager contacted the dealership to cancel the purchase because the dealership did not purchase the license, the $18,000 check for the license was hand delivered within the hour and the cars got purchased that evening.