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Sage Software Helps Companies Prepare for 2007 Tax
Season with Latest Release of Sage FAS Fixed Assets
Tax Updates Reflect Tax Relief and Health Care Act of
2006 Provisions Related to Fixed Assets
Herndon, Va. - January 8, 2007 - Sage Software today announced availability of the annual tax
update release for its Sage FAS Fixed Assets product line. To help customers
prepare for the upcoming tax filing season, relevant tax updates, including for
the new Tax Relief and Health Care Act of 2006, have been made to the asset
accounting and asset inventory solutions for the Sage FAS 50 Fixed Assets, Sage
FAS 100 Fixed Assets, and Sage FAS 500 Fixed Assets products. Sage FAS version
2007.1 includes enhancements to existing product features, plus changes to
assist with tax law and IRS compliance, such as updated tax rules, rates, and
forms, including Form 4562.
“Small and medium-sized businesses depend on us for the most up-to-date depreciation information,” said Chris Donie, vice president and general manager for Sage FAS solutions, Sage Software. ”We remain committed to providing Sage FAS customers with accurate tax and accounting information as early as possible, and despite the December 20 passage of the Tax Relief and Health Care Act of 2006, we responded quickly to release a timely, complete 2007 tax update.”
FAS Asset Accounting product updates for the 2007 tax year include new Section 179 and Luxury Auto limits, as well as updated Section 179 rules and extended rules for Native American Reservation property, both part of the Tax Relief and Health Care Act of 2006. Additional Audit Advisor validations – MACRS Depreciation election and Assets with Beginning Information and several security features were also added to FAS Asset Accounting for this update release.
FAS Asset Inventory product updates include two new reports. The new Asset Listing Report displays information about the assets in the current company or organization, while the new Readers Report displays information about a company or organization’s bar code readers.
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