Welcome to the Sage Fixed Assets Support Group on Community Hub! Available 24/7, the Forums are a great place to ask and answer product questions, as well as share tips and tricks with Sage peers, partners, and pros.
We are keeping an eye on two tax packages approved by the House Ways and Means Committee on June 14.
The Build It in America Act (H.R. 3938) retroactively extends, through 2025, some TCJA provisions that expired as of 1 January 2022, including:
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Overview
The IRS has issued guidance to address legislative changes in the CARES Act. QIP placed in service in 2018 and later is now eligible for bonus depreciation and has a GDS life of 15 years (20-years ADS).
The CARES Act, signed into law on March…
Every year the Sage Fixed Assets team strives to bring you features, enhancements, and updates in our products to improve your ability to bring value and efficiency to your organization. Partly driven by customer requests and partly by tax changes, 2019…
Since bonus depreciation was first introduced by the Job Creation and Worker Assistance Act of 2002 , it has been extended multiple times. Except for once (in 2008), whenever the deduction for bonus depreciation has been extended, it has been made retroactive…