rbynaker
Level 13
09-12-2023
03:39 PM
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We have an annual Business Personal Property Tax here in VA so it's usually pretty easy to coax clients into giving a good description. "Do you want to keep paying the county tax on this "EQUIP" forever? Or maybe we can give it a better description so when it goes in the dumpster in 3 years you can stop paying tax on it?"
I would take Jim's approach. If it's fully depreciated keep a paper (or scanned) copy of the old depreciation schedule for reference. If it's still depreciating enter it and let the software do the work. If you have some summer interns next year, have them enter the fully depreciated assets into the software.
Rick