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Sage Fixed Assets recent released the new version of Sage Fixed Assets Depreciation that supports all the new IRS legislation for tax deprecation as a result of the PATH Tax Act signed into law in December.

Some of the highlights covered in this release of Sage Fixed Assets are:

With the passage of the Protecting Americans from Tax Hikes (PATH) Act of 2015 the following changes has occurred in the Tax code:

  1. The 168 Bonus Allowance:
    • Extend from 2015 through 2019 (with an additional year for certain property with a longer production period)
    • Allowance of 50% for property placed in service 2015-2017. Reducing to 40% for 2018 and 30% for 2019
    • Modify to include qualified improvement property
    • Modify to permit certain trees, vines, and plants bearing fruits or nuts to be eligible for bonus depreciation when planted/grafted instead of when placed in service
  2. Section 179 of $500,000
    • Extend the 2010-2014 expense amount of $500,000 permanently
    • Extend the qualified real property expensing of up to $250,000 through 2015; the $250,000 cap is eliminated in 2016 and thereafter
    • Start indexing the expense limitation and investment threshold for inflation in 2016 (rounding to the nearest $10,000)
    • Air conditioning and heating units placed in service in 2016 and later are eligible for expensing
  3. 15-year depreciable life for qualified leasehold improvements; qualified restaurant buildings and qualified retail improvements. Extend permanently.

Request the details of all the updates included in the Sage Fixed Assets 2016.1 release here