Depreciation schedules for businesses

The Tax view on Claimfrog's Depreciation page shows the book value of each asset for bookkeeping and tax prep. It's separate from the insurance ACV estimate.

How it's calculated

Straight-line depreciation with no salvage value, prorated by month since purchase. The useful life comes from the asset class and your country (simplified U.S. or Canadian conventions). Every item needs a purchase price and purchase date to be included.

Steps

1. Open Depreciation and choose the Tax tab.
2. Set the As of date (for example, your fiscal year end).
3. Check each asset's Asset class: Computer equipment, Furniture and fixtures, Vehicles, Appliances, Machinery and equipment, Software, Leasehold improvements or Other.
   • Classes marked estimated were guessed from the category.
   • Click Classify with AI to classify everything that doesn't have a class yet. Classes you set yourself are never overwritten.
   • Or pick a class from the menu on any row.
4. Filter by Category if you only need part of the list.
5. Export the schedule to PDF or CSV for your accountant.

Good to know

• If some items are left out, a note tells you how many are missing a price or purchase date. Click Review items to fix them.
• The AI only suggests the asset class. All the math is done by fixed rules.
• This is an estimate for information only, not tax or accounting advice. Your accountant decides the method and lives that apply to you.