Depreciation Is A Snap With Depre123

Depre123 is a cloud based app that makes calculating depreciation easy with just 3 simple selections. Depre123 only needs Cost, Date and Class to run your calculation. By entering these 3 crucial values, Depre123 can provide all the answers.

Click on the 2 minute video above to see how the full application can manage hundreds or thousands of fixed asset records. Stop wasting time with complicated desktop software installation and inconsistent data entry of your fixed assets. Let Depre123 simplify your depreciation accounting.

On the Depre123 app listing page you can:

  • Take a test drive with sample data
  • Start a free trial with your own data
  • Download a data sheet, customization guide or white paper

See for yourself at Depre123.com

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Or visit the Salesforce app exchange listing to get more information, take a test drive or start a free trial of the application.

Questions? Comments? Let us know in the comments section below.

More information about Bassets eDepreciation software can be found at Bassets.net or depre123.com. At Bassets register for our live webinar, download a free evaluation copy and get a personalized pricing estimate. At depre123 try out our Free Depreciation Calculator and check out our cloud based fixed assets application.

Nonresidential Building Improvements Post 1993 Depreciation Calculation

IRS Publication 946 explains how you can use depreciation to recover the cost of business or income-producing property. One of the key elements in determining the correct annual depreciation amount is selecting the appropriate property class. There are many property classes listed in Appendix B of this publication but we have also created additional classes for things that are not covered. Nonresidential Building Improvements is one of asset classes.

After May 12, 1993, nonresidential building improvements were depreciated under the straight-line method and the mid-month convention with a recovery period of 39 years.

Additionally, the Section 179 Expense Deduction was not allowed.

Additions or improvements made to property, including improvements by a lessee or lessor to leased property, are treated as separate items (assets) for MACRS depreciation. In general, depreciation on the addition or improvement is computed on the property added to or improved if such property had been placed in service at the same time as the addition or improvement.

Nonresidential Building Improvements Post 93.1

This gives you the basic information that you need for a depreciation calculation but you still need to use a formula to get your answers. A straight-line calculation is used for this asset class and the mid-month convention will take half the monthly depreciation in the first period.

Look at sample spreadsheet below to see all the work that is involved in just one calculation. The highlighted formula shows the first year formula of a straight line calculation that was acquired in the middle of the year. As noted the first year calculation is dependent on the month placed in service. This calculation will continue for 40 years, click the spreadsheet image to see the full calculation results.

Nonresidential Building Improvements Post 93.2

Let the Depre123 depreciation calculator take out the guess work. Just enter 3 simple values (Cost, Date, Class) and get all the answers. The calculator is a great way to view the depreciation results for a handful of assets. If you manage hundreds or thousands of fixed asset records then a trial of the full Depre123 application can demonstrate how to simplify the entire process of fixed asset management.

Questions? Comments? Let us know in the comments section below.

More information about Bassets eDepreciation software can be found at Bassets.net or depre123.com. At Bassets register for our live webinar, download a free evaluation copy and get a personalized pricing estimate. At depre123 try out our Free Depreciation Calculator and check out our cloud based fixed assets application.

Need a New Fixed Assets Solution? Look to the Cloud!

Depre123 is a cloud based application, built on the Salesforce platform, to manage fixed assets and generate a variety of depreciation reports. Take a look at our:

  1. Web page
  2. App Exchange Listing

On the web page, you can watch videos, see screen shots and try our online depreciation calculator.

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Or visit the Salesforce app exchange listing to get more information, take a test drive or start a free trial of the application. Get all of your depreciation answers based on just 3 key values (cost, date, asset class).

Questions? Comments? Let us know in the comments section below.

More information about Bassets eDepreciation software can be found at Bassets.net or depre123.com. At Bassets register for our live webinar, download a free evaluation copy and get a personalized pricing estimate. At depre123 try out our Free Depreciation Calculator and check out our cloud based fixed assets application.

Land (Non-depreciable) Depreciation Calculation

IRS Publication 946 explains how you can use depreciation to recover the cost of business or income-producing property. One of the key elements in determining the correct annual depreciation amount is selecting the appropriate property class. There are many property classes listed in Appendix B of this publication but we have also created additional classes for things that are not covered. Land is one of the asset classes.

Land Non-depreciable

You cannot depreciate the cost of land because land does not wear out, become obsolete, or get used up. The cost of land generally includes the cost of clearing, grading, planting, and landscaping.

Although you cannot depreciate land, you can depreciate certain land preparation costs, such as landscaping costs, incurred in preparing land for business use. These costs must be so closely associated with other depreciable property that you can determine a life for them along with the life of the associated property.

Example: You construct a new building for use in your business and paid for grading, clearing, seeding, and planting of bushes and trees. Some of the bushes and trees were planted right next to the building, while others were planted around the outer border of the lot. If you replace the building, you would have to destroy the bushes and trees right next to it. These bushes and trees are closely associated with the building, so they have a determinable useful life. Therefore, you can depreciate them. Add your other land preparation costs to the basis of your land because they have no determinable life and cannot be depreciated.

Let the Depre123 depreciation calculator take out the guess work. Just enter 3 simple values (Cost, Date, Class) and get all the answers. The calculator is a great way to view the depreciation results for a handful of assets. If you manage hundreds or thousands of fixed asset records then a trial of the full Depre123 application can demonstrate how to simplify the entire process of fixed asset management.

Questions? Comments? Let us know in the comments section below.

More information about Bassets eDepreciation software can be found at Bassets.net or depre123.com. At Bassets register for our live webinar, download a free evaluation copy and get a personalized pricing estimate. At depre123 try out our Free Depreciation Calculator and check out our cloud based fixed assets application.

Qualified Leasehold Improvement Property Depreciation Calculation

IRS Publication 946 explains how you can use depreciation to recover the cost of business or income-producing property. One of the key elements in determining the correct annual depreciation amount is selecting the appropriate property class. There are many property classes listed in Appendix B of this publication but they have also created additional classes for things that are not covered. Qualified Leasehold is one of the asset classes.

Qualified Leasehold Improvement Property placed in service after October 22, 2004 and before January 1, 2014 is 15 year MACRS property. This provision is not elective and must meet the Bonus depreciation requirements:

  1. The improvement is made under or pursuant to a lease;
  2. The lease is not between related persons;
  3. The improved space is occupied exclusively by the lessee;
  4. The improvement is section 1250 property; and
  5. The improvement is placed in service more than three years after the date the building was first placed into service

Qualified Leasehold Improvement 1

This gives you the basic information that you need for a depreciation calculation but you still need to use a formula to get your answers. A straight-line calculation is used for this asset class and the half year convention will take a half of a yearly depreciation in the first year.

Look at sample spreadsheet below to see all the work that is involved in just one calculation. After the first year, each year is calculated at one fifteenth of the cost until the last year. The highlighted formula shows the remaining amount of the first year is then taken in the last or stub year.

Qualified Leasehold Improvement 2

Let the Depre123 depreciation calculator take out the guess work. Just enter 3 simple values (Cost, Date, Class) and get all the answers. The calculator is a great way to view the depreciation results for a handful of assets. If you manage hundreds or thousands of fixed asset records then a trial of the full Depre123 application can demonstrate how to simplify the entire process of fixed asset management.

Questions? Comments? Let us know in the comments section below.

More information about Bassets eDepreciation software can be found at Bassets.net or depre123.com. At Bassets register for our live webinar, download a free evaluation copy and get a personalized pricing estimate. At depre123 try out our Free Depreciation Calculator and check out our cloud based fixed assets application.