Bloomberg Tax & Accounting has enhanced its Advantage Fixed Assets software to address bonus depreciation calculations for states whose rules do not conform with the Internal Revenue Code. Bloomberg noted many states has disallowed the benefit, partially or in full, since its adoption in 2001.

The new state bonus depreciation feature includes new state books and reports that manage complying with state regulations by providing built-in, state-specific rules for the application of bonus, as well as calculations of federal-to-state modifications.

The release handles requirements in California, New York, Illinois, North Carolina, Minnesota and Florida requirements. Additional states will be added, based on customer feedback.

Bob Scott
Bob Scott has provided information to the tax and accounting community since 1991, first as technology editor of Accounting Today, and from 1997 through 2009 as editor of its sister publication, Accounting Technology. He is known throughout the industry for his depth of knowledge and for his high journalistic standards.  Scott has made frequent appearances as a speaker, moderator and panelist and events serving tax and accounting professionals. He  has a strong background in computer journalism as an editor with two former trade publications, Computer+Software News and MIS Week and spent several years with weekly and daily newspapers in Morris County New Jersey prior to that.  A graduate of Indiana University with a degree in journalism, Bob is a native of Madison, Ind
Last modified on Monday, 10 February 2020
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