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Ghosts on the ledger
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Future of professionals report 2025
The Thomson Reuters Future of Professionals Report 2025 reveals how AI continues to shape professional work — and what it takes to get ahead. This year’s report shows that increased efficiency, productivity, and cost savings top the list of benefits professionals attribute to AI, making it indispensable for organizations facing rapid change.
Set up a new method or life in the Method/Life Wizard
To set up a new method or life for the Method/Life Wizard, perform the following steps.
- Open the client.
- SelectSetup, then Method/Life Wizard.noteDepending on your security configuration, you might need to enter the master password before you can open theMethod/Life Wizardwindow.
- Select the tab (General,Farm,Indian Reservation,Indian Reservation Farm, orGovernmental) you want to edit.
- In the Asset class list, select the asset class for which you will edit the methods or lives.
- Select theEditbutton.
- Select the tab for the treatment for which you will add the new method or life.
- Select the
button on the left side of the Method/Life table.noteYou can't edit methods and lives for the Tax treatment if the system is maintaining the Method/Life Wizard. - In theWhat date will the new method or life start?field, enter the 1st date that the asset class's method or life changed. The application automatically calculates and enters the ending date for the previous method or life and enters 12/31/2999 as the end date for the new method or life. SelectOK.noteIf the start date is entered incorrectly, the method or life must be deleted from the table and reentered. You can only delete the last row in the table. To delete a row, select the-button next to the line you want to delete.
- In the Method column, choose the proper depreciation method from the dropdown list.
- In the Life column, enter the appropriate life.
- In the ADS Life column, enter the ADS life to be used (when necessary) for AMT, ACE, and E&P calculations.
- Select theEnterbutton to save the changed information.