Can SAP support specific US IRS Tax Forms such as 4562 and 4797? Yes, and no.
This part of the revaluation blog series on AR29N goes into a specific example of how an asset can be revalued and the values tracked correctly.
If you're here then you probably already know about how the IRS has a separate depreciation schedule for passenger vehicles (including electric vehicles). This was referred to as luxury auto depreciation. This blog will show you that it can easily be done in SAP.
This second blog in the Asset Revaluation AR29N series covers some specific items on why SAP's solution is the preferred method for asset revaluation.
SAP can easily handle US tax depreciation requirements. In this blog, I'll show how the US Mid-Quarter convention works.
If you work in the capital accounting area long enough then you’ll eventually have to handle a fixed asset revaluation. There are many factors that make this process complex, political, detail oriented, and worthy of your attention.
For the tax accountants that want to know if they can make prior year asset basis adjustments without impacting the corporate book.
Third part of the blog series covers how tax basis adjustments are made so that the corporate book isn't impacted.
To better understand how SAP Fixed Assets supports US Tax calculations we'll have to review how SAP keeps all of the asset valuations separate.
Can SAP Fixed Assets handle the complicated (and ever-changing) rules for US Taxes? Step into this blog series to see what's possible.