• Luxury auto PIS in 2020

    I have two assets that were placed in service in 2020 and the company was sold in 2020. When I depreciate - it is taking the whole amount and is not subjecting it to 280F(d)(7) luxury automobile limitations for TY20. Can you provide guidance on how to…

  • Depreciation rates

    Hello!  We use the Sage Premier product. I'm wondering if there is any way to see what rates are being used for depreciation for each method?  I've not seen it in a table. I assume it may come with the updates and be in the software itself. Is there…

  • Straight Line Calculation

    Is there somewhere that I can find details on the formulas used by sage to calculate deprecation?

    We are moving from Lawson Fixed Assets to Sage Fixed Assets and our calculations are not coming out correctly. 

    Thanks 

  • Section 179D Deduction Calculation In Sage FA 2016

    I'm having a disagreement with my company's internal tax accountant.  She is claiming that Sage FA is not treating the 179D deduction for the HVAC unit in a new building.

    From what I can see & have rechecked Sage is calculating depreciation correctly…

  • Help with some items 2015.1

    I have a team that is going to meet with me tomorrow to discuss the following items with Support unless I get them from other sources.  I went to knowledge base, so I figured this was the next step in the process.  Here are the items we could use some help…

  • 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…

  • What is the best method for setting a period close after the actual period close date?

    Hello,

    I forgot to set the period close date when we closed our fiscal year.  We have since run four months of depreciation, with no "reset date" that will work for resetting, running a period close, and then re-running depreciation for the affected assets…

  • Assets not depreciating (amortizing) as expected

    Hello,

    We have intangible assets that are not depreciating properly in the final year of their life.

    At the end of the prior fiscal year, the NBV and depreciation amounts were correct.  I closed the period, as usual, and ran depreciation in period 1 of…

  • Sage Fixed Assets 2015.1 is now available!

    What’s New in Sage Fixed Assets 2015.1:

    • 2014 Tax Form 4562
    • Tax Law changes that are part of the Taxpayer Increase Prevention Act of 2014 (TIPA 2014) and are available to be applied to 2014 assets:
      • 50% bonus depreciation (168k) for qualified property…
  • Disposals

    Hello,

    When we process disposals between periods, the Internal depreciation calculation will not calculate for the disposed assets. The depreciation is calculated for Tax. Has anybody experienced this before?

    Thank you,

  • Bonus Depreciation - Help

    In need of any help or suggestions on how we change or track the below 2 changes in the system.

     

    Issue 1: Recently any assets placed in service prior to 1/1/14, Federal and State were the same (in the system they are not) - Is there a way to have a catch…