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

Tax Updates Reflect Updated IRS Form 4562, Latest Section 179 Depreciation Limits, and More

Sage Software today announced availability of the annual tax update release for its Sage FAS Fixed Assets product line. Relevant tax updates have been made to the Sage FAS 50 Fixed Assets, Sage FAS 100 Fixed Assets, and Sage FAS 500 Fixed Assets products. To help customers prepare for the upcoming tax-filing season, the Sage FAS 2006.1 tax update includes enhancements to existing product features, as well as changes to assist with tax law and IRS compliance, such as updated tax rules, rates, and forms.

"We remain committed to providing Sage FAS customers with the most up-to-date depreciation information quickly and efficiently," said Chris Donie, vice president and general manager of Sage FAS solutions. "Users need accurate tax and accounting information as early as possible, so we are consistently one of the first fixed asset management solution providers to release our annual tax update. For the 2005 tax year, important updates related to fixed asset depreciation were made to Section 179 and IRS Form 4562."

The Jobs Creation Act of 2004 provided a new deduction under Section 179B. In July 2005, Congress passed the Energy Tax Incentives Act of 2005, which added additional deductions related to fixed assets under Section 179C and 179D. In response to these changes, Sage Software has added new depreciation limits for Section 179 and updated Investment Tax Credit (ITC) options in the latest Sage FAS release.

In addition, Sage FAS customers can now use the IRS Form 4797 -- Sales of Business Property form to gather depreciation information from any of the seven tax books featured in Sage FAS, and the IRS Form 4562 -- Depreciation and Amortization has been updated for the 2005 tax year.

Sage FAS customers can now access the product from the Sage Desktop, a common resource center being deployed across Sage Software products to provide users with quick access to all the applications, information, and tasks they need for their unique roles and work processes. For example, users can launch FAS 500 Asset Accounting directly from their Sage Timberline Office or Sage MAS desktop.

The Sage FAS 2006.1 Tax Update is available for active Sage FAS SupportPlus customers to download at www.sagefas.com/update, and benefits customers who employ FAS 50 Asset Accounting (formerly FAS FirstStep), FAS 100 Asset Accounting (formerly FAS Asset Accounting), and FAS 500 Asset Accounting (formerly FAS Asset Accounting for SQL Server), FAS 50 Asset Accounting -- Peachtree Edition (formerly FAS FirstStep for Peachtree), and FAS for Peachtree by Sage. As part of their support program, customers will also receive the update on CD-ROM. Sage FAS customers interested in renewing their SupportPlus contracts may call 800-368-2405.

About Sage Software (formerly Best Software)

Sage Software offers leading business management software and services that support the needs, challenges and dreams of more than 2.4 million small and mid-sized business customers in North America. Its parent company, The Sage Group plc (LSE: SGE.L), supports 4.7 million customers worldwide. For more than 25 years, Sage Software has delivered easy-to-use, scalable and customizable software for accounting, customer relationship management, human resources, time tracking and the specialized needs of accounting practices and the construction, distribution, manufacturing, nonprofit and real estate industries. For more information, please visit the Web site at www.sagesoftware.com/moreinfo or call (866) 308-2378.

© 2005 Sage Software. All rights reserved. The Sage Software logo and the Sage Software product and service names mentioned herein are registered trademarks or trademarks of Sage Software or its affiliated entities.

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