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  • Section 168 bonus depreciation on luxury autos

    I know the final update reflecting 2015 tax law will not be released until version 2016.1 in early February 2016. However, Bill and Lovisa have advised on this forum that updating depreciation methods in the TAX and AMT books to MA200 or MA150 will reflect…

  • Luxury auto calcs wrong in years subsequent to a section 168 bonus election

    Bonus Depreciation on luxury autos. I have posted on this site regarding this issue before yet after 3 years, I still cannot get a straight answer. For a luxury auto placed in service in years with 50% bonus depreciation, the allowable section 168 bonus…

  • Tax Depreciation for Autos With Bonus

    I have 3 questions related to this topic. Our company's tax advisor says that for luxury automobiles that have 100% Bonus (e.g. $18,000 for a car purchased in '18), they should have no more tax depreciation on them till year 7. The way Sage software…

  • Import assets from newly acquired company

    Hello, I am trying to import assets from a newly acquired company. I received an excel file that contains all the critical fields. It also contains a field for assets that have taken 179 bonus depreciation at 100% and some assets with 50% bonus. These…

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