Fixed Assets Manager updated to support the American Recovery and Reinvestment Act of 2009

Apr 1, 2009

Red Moon Solutions released an updated version of its top rated Fixed Assets Manager™ product. This latest release accommodates the tax law changes per the American Recovery and Reinvestment Act of 2009 which was signed into law on February 17, 2009. Essentially, the updates include: 1) The annual dollar limitation on the cost of qualifying property that may be currently expensed is $250,000.00 for property placed in service in tax years beginning in 2009; 2) The cost of qualifying property placed in service on or after 12/31/2008 has increased to $800,000; and 3) Bonus depreciation is extended through December 31, 2009.

The extension is retroactive to January 1, 2009. “There has never been a more critical time to ensure you are using a quality fixed asset management tool to manage your fixed assets' depreciation,” comments Traci Wheeler, Managing Director, Red Moon Solutions. “Everyone would like their tax bills reduced to compensate for their investment in business assets, which means businesses should be utilizing a tool that has built-in tax law logic vs. an excel spreadsheet; a powerful yet easy-to-use tool like Fixed Assets Manager. " adds Wheeler.

Due to the continuously changing tax laws, using fixed asset software to ensure you are taking advantage of the tax law is no longer a luxury; it is a necessity. As new laws are enacted, prior laws can become obsolete, be retroactive to certain dates, and be effective for prospective dates only or any combination thereof. Reliable fixed asset software has the ability to remember all of the rules, whether old or new, and apply them on a consistent and reliable basis.