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tstantec

Adjusting Estimated Life in Tax Book

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Hi, 

Is there any way to override or adjust the estimated life in the tax book if we want to use a life that is not one of the IRS life's in the drop down and we are not using the SL method?

Tara

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    Hi, Tara,

    Actually, you don't want to use the SL method (except in the case of intangibles, and there, we recommend the SF method over the SL) because the SL will not feed into Part III of the IRS form 4562.

    What you're really asking is will Sage help you violate federal tax law?

    And the answer is No!

    You may have also noticed, Tara, that the Copy Book feature will allow you to copy one book into another book ... except that you are limited on the destination side.  You can copy whatever you like into 4 books, but the 3 federal tax books are missing as an option.  And that's because Sage will not allow you to copy anything into a federal tax book.  This feature is limited not only for your protection, but also to protect our reputation as well.

    Sage spends a lot of time and resources to keep our software current with federal tax law.  It's one of the things that sets apart our software from other software applications that you may find in the marketplace.

*Community Hub is the new name for Sage City