Bloomberg BNA released an update of its BNA Fixed Assets Web software, version 2015.0, to help customers comply with the recently passed Tax Increase Prevention Act of 2014.
The update addresses the tax extenders legislation, including multiple provisions for business taxpayers through 2014, including accelerated depreciation of certain business property (bonus depreciation), Form 4626 (alternative minimum tax), and Section 179; the increased expensing allowance for business assets; computer software; and qualified real property.
"We've closely followed the tax extenders discussion throughout 2014, and have prepared an immediate update in order to help customers efficiently wrap up their year-end planning," stated Dean Sonderegger, executive director of product management for Bloomberg BNA's software products. "For publicly traded organizations in particular, this update will support their tight timeframe to meet the Securities and Exchange Commission's impending Form 10-K filing deadline."
BNA Fixed Assets offers tax and accounting professionals in mid-sized to enterprise corporations a foundation for all fixed assets and depreciation management, with the scalability to handle up to millions of assets.
"The long-term fate of these tax breaks remains unclear; it's our belief that the issue will come up again in 2015," Sonderegger stated. "We will continue to react quickly to legislative changes to ensure our customers can plan accordingly and comply with the latest regulations."
More information on the software is available here.
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