Startup Idea: Advanced Asset Management Software for Tax Preparers

Startup idea to develop an application to manage and categorize fixed assets in a business more effectively. The software should facilitate precise sorting and classification based on stringent state requirements, thereby saving a lot of manual calculations and time. It should provide strong data filtering, report generation capabilities and address multiple specific types of calculations.

I work as a tax preparer for a multinational corporation. We have a lot of trouble with our database software for fixed assets giving us certain types of information that we end up needing to prepare certain returns.

If there was some type of application that would allow us to sort and classify the assets based upon more precise criteria that would be more tailored to state requirements for calculations that would end up saving a ton of manual calculation time.

Current software that we use doesn't have as robust of filtering and report preparation as we would like and we spend a lot of hours creating ad hoc reports that it seems like software should be able to pull for us.

Quick example would be sorting out all assets with a certain tax life, and the bonus depreciation associated with them regardless of year placed in service. If a report could be generated with the information that we want for each circumstance, perhaps even in the format specified by the taxing jurisdiction, that would be perfect.

There are many other specific types of calculations as well. I believe that software with this functionality would be worth paying for. I'm not sure that leadership would agree, but a strong case could be made that the time savings would be worth the cost most likely.

I have searched through the various products offered, none seem to have something that is close to what we need. Not sure why.