Fixed Asset Depreciation Done Right!

Program Features

  • User manual that explains the use of the program

  • Updated annually - See the Annual Updates page of our website for more details.

  • Context sensitive help, accessed by pressing the F1 key

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

  • Handles fiscal years and short-years

  • Automatically calculates MACRS depreciation with the first-year bonus depreciation for qualified fixed assets for applicable years.

  • 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

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

  • Computes the annual luxury automobile depreciation limitations

  • Computes the annual truck and van depreciation limitations

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

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

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

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

  • Computation of amortization of intangibles

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

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

  • Select depreciation methods from drop-down menus

  • 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.

  • Bulk sale of several assets in one transaction

  • Computation of recaptured section 1245 gain as ordinary

  • Computation of negative depreciation and amortization for those special circumstances

  • Depreciation Calculator creates the following reports:

    • Annual federal and state regular tax depreciation reports

    • Annual federal and state AMT depreciation reports

    • Annual federal and state ACE depreciation reports

    • Annual, monthly, and quarterly book (GAAP) depreciation reports

    • Monthly book accumulated depreciation report

    • Monthly net book value report

    • Monthly depreciation journal entry

    • Current year acquisitions report

    • Current year dispositions report

    • Form 4562 and supporting schedules

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

    • Annual and monthly net book value reports

    • Worksheet for preparing a Business Property Tax Statement

    • Asset detail listing showing the following:

      • Description of each asset and location

      • Serial number & assigned asset ID number

      • Date acquired & cost