Red Moon Solutions Releases Fixed Assets Manager 2009.02

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Red Moon Solutions, a leading provider of specialty tax software solutions, released an updated version of their Fixed Assets Manager software, including tax law updates and upgrades to usability. http://www.redmoonsolutions.com/solutions/fixed-assets-manager/

We continue to incorporate functionality our clients both suggested and want—new facets they’ll use to be more productive

Red Moon Solutions, a leading provider of specialty tax software solutions, released an updated version of their Fixed Assets Manager software (FAM), not only encompassing tax law updates, but upgrades to usability, as well. The functionality modifications were a result of Red Moon’s client-based focus; changes were based off of user desires, each of which will facilitate ease of use.

"Typically, the second release of Fixed Assets Manager is limited to the newly approved tax law changes, but this release includes significant updates geared towards our clients' wants," comments Jennifer Coleman, Manager of FAM Product and Services, Red Moon Solutions. "We continue to incorporate functionality our clients both suggested and want—new facets they’ll use to be more productive," adds Coleman.

For a complete listing of the client-centered updates to the Fixed Assets Manager software now available, visit http://www.redmoonsolutions.com/support/product-updates/2009-02/

What’s New?

The following features are now available with this version:

  •     Asset Detail Export Report - This report is used to export asset detail used on the Asset Detail Report. All

data for an asset will be exported as one row in the export file. For more information, see "Asset Detail
Export" topic in Online Help.

  •     Bonus History Report - This report includes all assets that have ever taken bonus depreciation during their life.
  •     Depreciation Export Report - The following fields have been added to the Depreciation Export Report: Book Name, and Section 179.
  •     Importing –You can now un-assign all column headings on the Define Column Types page of the import

wizard by selecting the Un-Assign All button. Any columns that were assigned will be reset to <None>.

  •     Luxury Automobile Limitations - For assets placed in service between 1/1/2010 and 12/31/2010 the

following limits apply. These limits are listed by Calculate Under.

Section 280F - Auto & Section 280F - Electric
Year Amount
1st $3,060
2nd $4,900
3rd $2,950
4th and subsequent $1,775

Section 280F - Truck
Year Amount
1st $3,160
2nd $5,100
3rd $3,050
4th and subsequent $1,875

  •     Monthly Period Data Report –This report lists period data in an easy to read format that is similar to the monthly projection report. This report is preferred to the Period Data report, since it uses less paper and is easier to read.

Note: You cannot use this report if the entity has more than 12 periods.

  •     Print Report Tree – In the Print dialog, under Reports, the Export folder has been replaced with the Excel Formatted Export folder and the Compliance Export folder. The following lists the two new report folders and the reports associated with those folders:

Compliance Export
Vertex Tax Forms TDC Export
Vertex Tax Forms TDC Export Consolidated
Vertex Tax Forms VLD Export
Excel Formatted Export
Accounting Information Field Export
Asset Detail Export
Depreciation Export
Retirement Export

  •     Projection Report-Format report for export to Excel - When selecting the yearly projection report, there is a new option to format the report to export to Excel when the years to project are 5 years or less. The option is automatically selected if the years to project are 6 years or more.
  •     New fields added – The following fields have been added to the yearly projection report when the

option to format the report for export to Excel is selected: Book Name, Placed in Service, Method,
Convention, and Cost

  •     Retirement Export Report – The option to select up to six extra fields has been added to the Retirement Export Report.
  •     Section 179 - 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 2010. The cost of qualifying property placed in service on or after 12/31/2009 has increased to $800,000. For more information, see “Section 179 expense” topic in Online Help.

Client Response to Tax Software Updates
Regarding the updates to Red Moon Solutions’ Fixed Asset Management software, Jennifer Coleman adds "Our clients are thrilled that we are able to incorporate their suggestions - the things they want - so they can be more productive."

On a side note, the extension of Bonus Depreciation for 2010 has not been decided upon by Congress yet, so there may come a need for a third release.

About Red Moon Solutions
Red Moon Solutions is a tax software company focused on giving you what you want. Founded by the former CIO and head of Tax Technology Enterprises for Arthur Andersen, Red Moon Solutions provides specialty tax products and services with flexibility. Its solutions are versatile but effective, providing options to track high volumes of assets, improve control and ensure that financial and tax depreciation is up-to-date. Learn more at http://www.redmoonsolutions.com.

Red Moon Solutions, LLC
Live Oak Office Center
2201 Cantu Court
Suite 118
Sarasota, FL 34232
http://www.redmoonsolutions.com/

Contact: Stacy Shedivy
Red Moon Solutions LLC
800.224.1260
http://www.redmoonsolutions.com/about-us/contact/

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