New Handbook and Calculators Aid in Depreciation Calculations

The first integrated Federal Depreciation Handbook and Calculator for CPA firms and corporate tax professionals has been released by the Tax & Accounting business of Thomson Reuters.

The book and calculator are available on the Thomson Reuters Checkpoint online research platform. The handbook is also available on the Thomson Reuters Proview app.

The Federal Depreciation Handbook provides in-depth, expert guidance on challenging, yet common tax depreciation and cost recovery issues. It includes the following features: numerous quick reference tables and charts that provide easy access to key information; real-life examples that illustrate how tax rules apply; a “What’s New” section that summarizes significant tax law changes; and references to relevant Internal Revenue Code sections, IRS regulations and rulings, and court cases.

“Our goal is to provide customers with the most insightful, efficient, and accurate resources to enhance their daily workflow experience,” said Mike Swenson, Executive Editor in the Tax & Accounting business of Thomson Reuters. “The Federal Depreciation Handbook is an all-in-one resource for quick reference and in-depth coverage of depreciation and other cost recovery tax issues.”

“The accompanying calculator performs fast, easy depreciation calculations for tax planning or for determining the most appropriate depreciation elections when an asset is placed into service.”

Additionally, there are hyperlinks to and from the book, calculator, primary law, and other tax research products on Checkpoint.

The Depreciation Calculator enables users to:

Quickly and easily calculate federal tax depreciation.
Identify the most appropriate depreciation elections when an asset is placed in service.
Generate a printable and savable depreciation schedule for the life of an asset.
Enter User Notes to document their conclusions (e.g., elections).