Depreciation Calculator Features

1. User manual that explains the use of the program

2. Context sensitive help, accessed by pressing the F1 key

3. Handles multiple companies (number limited by available disk space and RAM)

4. Handles fiscal years and short-years

5. Automatically calculates MACRS depreciation with the first-year 30% bonus depreciation for qualified fixed assets acquired after 9/10/2001 and before 5/6/2003

6. Automatically calculates MACRS depreciation with the first-year 50% bonus depreciation for qualified fixed assets acquired on or after 5/6/2003 and before 1/1/2005, and on or after 1/1/2008

7. Calculates MACRS depreciation for assets with lives of 3, 5, 7, 10, 15, 20, 27.5, 31.5, and 39 years, using the applicable half-year, mid-month, or mid-quarter conventions

8. Calculates ACRS depreciation for assets with lives of 3, 5, 15, 18, and 19 years

9. Calculates the corporate ACE adjustment for assets acquired prior to 1/1/1994.

10. Provides a test to determine whether the mid-quarter convention is required, and an option to force the use of the mid-quarter convention

11. Provides a test to determine the overall reduction of the maximum Section 179 allowance for the year

12. Calculation of GAAP (book) depreciation using the straight-line and declining balance methods (125%, 150%, 175%, and 200%)

13. Computation of amortization of intangibles

14. Allows the user to override the calculation of current year depreciation when the need arises

15. Automated year-end update procedure - rolls accumulated depreciation forward and eliminates assets disposed of in prior periods

16. Select depreciation methods from pop-up menus

17. Handles simple trade-ins of one vehicle for another, or one piece of equipment for another in accordance with the provisions of IRB 2004-14.

18. Computation of recaptured section 1245 gain as ordinary.

19. Computation of negative depreciation and amortization for those special circumstances.

20. Project next year's federal, state, and book depreciation expense while finalizing the current year's depreciation schedule

21. Reports are sorted by Asset Group Numbers (general ledger account numbers) and by Department Numbers

22. Export reports to Excel or Word formats

23. Depreciation Calculator creates the following reports:

    1. Annual federal and state regular tax depreciation reports

    2. Annual federal and state AMT depreciation reports

    3. Annual federal and state ACE depreciation reports

    4. Annual, monthly, and quarterly book (GAAP) depreciation reports

    5. Monthly book accumulated depreciation report

    6. Monthly net book value report

    7. Monthly depreciation journal entry

    8. Current year acquisitions report

    9. Current year dispositions report

    10. Form 4562 and supporting schedules

    11. Group Totals report for federal, state and books (GAAP)

    12. Detail listing report that shows the following asset tracking
        information: description of each asset, location of each
        asset, serial number, company assigned asset ID number,
        date acquired, and cost

    13. Annual net book value report