SOURCE: Sage Software

January 08, 2007 11:20 ET

Sage Software Helps Companies Prepare for 2007 Tax Season With Latest Release of Sage FAS Fixed Assets

Tax Updates Reflect Tax Relief and Heath Care Act of 2006 Provisions Related to Fixed Assets

HERNDON, VA -- (MARKET WIRE) -- January 8, 2007 -- Sage Software today announced availability of the annual tax update release for its Sage FAS Fixed Assets product line. To help customers prepare for the upcoming tax-filing season, relevant tax updates, including for the new Tax Relief and Health Care Act of 2006, have been made to the asset accounting and asset inventory solutions for the Sage FAS 50 Fixed Assets, Sage FAS 100 Fixed Assets, and Sage FAS 500 Fixed Assets products. Sage FAS version 2007.1 includes enhancements to existing product features, plus changes to assist with tax law and IRS compliance, such as updated tax rules, rates, and forms, including Form 4562.

"Small and medium-sized businesses depend on us for the most up-to-date depreciation information," said Chris Donie, vice president and general manager for Sage FAS solutions, Sage Software. "We remain committed to providing Sage FAS customers with accurate tax and accounting information as early as possible, and despite the December 20 passage of the Tax Relief and Health Care Act of 2006, we responded quickly to release a timely, complete 2007 tax update."

FAS Asset Accounting product updates for the 2007 tax year include new Section 179 and Luxury Auto limits, as well as updated Section 179 rules and extended rules for Native American Reservation property, both part of the Tax Relief and Health Care Act of 2006. Additional Audit Advisor validations -- MACRS Depreciation election and Assets with Beginning Information -- and several security features were also added to FAS Asset Accounting for this update release.

FAS Asset Inventory product updates include two new reports. The new Asset Listing Report displays information about the assets in the current company or organization, while the new Readers Report displays information about a company or organization’s bar code readers.

The Sage FAS 2007 tax update is available now for active Sage FAS SupportPlus customers to download at www.sagefas.com/update. As part of their support program, customers will also receive the update on CD-ROM. Sage FAS customers interested in renewing their Sage FAS SupportPlus contracts may call 800-368-2405.

About Sage Software

Sage Software supports the needs, challenges and dreams of more than 2.7 million small and mid-sized business customers in North America through easy-to-use, scalable and customizable software and services. Our products support accounting, operations, customer relationship management, human resources, time tracking, merchant services and the specialized needs of the construction, distribution, healthcare, manufacturing, nonprofit and real estate industries. Sage Software is a subsidiary of The Sage Group plc, a leading international supplier of accounting and business management software solutions and related products and services for small and mid-sized businesses. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and the Group now has 5.2 million customers and employs over 13,000 people worldwide. For more information, please visit the Web site at www.sagesoftware.com/moreinfo or call (866) 308-2378.

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