The tool allows you to define the following for each item:
- Fixed asset purchase price
- Salvage value
- Useful life
- Date of purchase
Summaries Include:
- Up to 30 years for the monthly and annual depreciation expense.
- Up to 30 years for the ending monthly and annual book value of the aggregate.
- A standalone double declining balance helper that goes out 15 years.
If you really want to use the double declining balance you could copy and paste that section as many times as you want and then sum up the yearly values.
The idea is to understand the monthly depreciation that you may be able to deduct as an expense when you have a wide range of depreciable fixed assets that have been purchased at different times and have different useful lives. Also, to see the total book value of all fixed assets over time.
Note, section 179 deductions are not accounted for here.
