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
  • 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
  • Computation of recaptured section 1245 gain as ordinary.
  • Computation of negative depreciation and amortization for those special circumstances.
  • Depreciation Calculator creates the following reports:
    • Federal and State regular tax depreciation reports
    • Federal and State AMT 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
    • Forms 4562 & 4797 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