Red Moon Solutions LLC(R) Supports the Economic Stimulus Act of 2008

Apr 29, 2008

SARASOTA, Fla.--(BUSINESS WIRE)--Red Moon Solutions LLC, a premier provider of specialty tax software solutions, recently introduced a new version of Fixed Assets Manager (FAM) to support the Economic Stimulus Act of 2008. Designed initially to support Arthur Andersen’s internal U.S. tax practice, Fixed Assets Manager provides comprehensive accounting and tax features and robust tax calculations along with straight-forward navigation, designed to simplify daily fixed asset management tasks.

“We are proud to announce that Red Moon Solutions shipped our Stimulus Act compliant Fixed Assets Manager update less than thirty days after the enabling legislation, H.R. 5140, was signed by the President,” states Jim Shedivy, President, Red Moon Solutions. “While taxpayer refunds have made the news, the increased 2008 depreciation allowance and Section 179 expense are the big story for business. The new law offers over 44 billion in 2008 business tax relief. The enhanced $250,000 code sec. 179 expense almost doubles the previous $128,000 limit. Bonus depreciation is back as well. Many assets placed in service during 2008 are eligible for fifty percent first year bonus depreciation. Congress also raised the automobile depreciation cap to $8,000 for bonus assets. As with most tax matters, these benefits are constrained by a host of complex rules. We are pleased to help businesses take advantage of these benefits with our Fixed Assets Manager software,” adds Shedivy.

For more information, please contact Bryan Ahrens, VP Sales, at 941.379.7114.