By Jason Johnson—Co-Founder of Fixed Asset Consulting and Former CEO, Mpulse Maintenance Software
The contemporary business landscape is marked by increasing interconnectivity across diverse operational areas. The gap in the critical intersection of the accounting and maintenance departments is often under-appreciated and overlooked. Acknowledging this vital correlation, Sage, a globally trusted leader in software…
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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The Sage Fixed Assets team has been busy adding features, improving performance, and updating tax laws to Sage Fixed Assets Depreciation as well as Planning, Tracking, and Reporting. When is the last time you updated your Sage Fixed Assets software? If it has been a while, here are 5 reasons why now is the time to do it.
Tax Updates
As you have come to expect, Sage Fixed Assets keeps you up to date on the latest tax rules…
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 27, 2020, contained a few tax surprises, including fixing the “retail glitch.” The retail glitch is the term used for language omitted in the Tax Cuts and Job Act (TCJA…
Qualified Improvement Property (QIP) placed in service after December 31, 2017 now has a GDS life of 15 years and an ADS life of 20 years. Perhaps even more importantly, QIP is now eligible for 100% bonus depreciation per current law.
Changes to Qualified Improvement Property are included in the Coronavirus Aid, Relief, and Economic Security Act (aka the CARES Act) legislation. The CARES Act, signed into law on March…
By Bob McElroy, Certified Trainer, Sage University
The textbook that we use to teach Principles of Fixed Assets Accounting, one of the classes offered through Sage U, is currently being revised. This new textbook revision will include the new tax extenders in 2020. Here below is a recap of these updates to applicable tax law.
Section 179The expense limit will be $1,040,000 in 2020. As a review, here’s how that new figure…
A new feature, Bulk Edit, and two new depreciation methods, RH and RM, are available in Sage Fixed Assets-Depreciation 2019.1 and later to easily change the depreciation method and life for multiple assets.
The features were prompted by an election available under section 163(j), added by the Tax Cuts and Jobs Act of 2017 (TCJA) and available for real property…
Call volumes in January can often result in longer than normal wait times to speak with us. Which is why, when hold times are longer than usual, you may be asked to have your place virtually held in line through our Courtesy Call Back feature. Below are some frequently asked questions—and tips—about Courtesy Call Back:
In this Anytime Learning course you will see the integration between Sage 100 and Sage Fixed Assets from Accounts Payable, Purchase Order and Fixed Assets. This course is available to all at no charge. Click here to register.
This blog post contains steps, as well as links to applicable Sage KB articles, for three of the most common reasons why Sage Fixed Assets customers have contacted us for help recently: changing critical deprecation fields, installing a client, and performing a custom import.
Change Critical Deprecation FieldsTo change a critical field (any field in the lower, Book Information portion of the asset’s detail view):…
“I can tell you I don't have money, but what I do have are a very particular set of skills; skills I have acquired over a very long career.” – Retired CIA Agent Bryan Mills portrayed by Liam Neeson, from the movie Taken.
Being able to work with data in a Microsoft Excel spreadsheet requires a certain set of skills. And some of the most skilled people I have ever met were on the Accounting staff…
I was out sick with pneumonia for the first time in my life and it sucked. I am used to moving and working at warp speed, always. Stuck in bed, bored, and feverish... what's a person to do? Reflect on fixed asset accounting? Perhaps, but not just 'fixed assets' in general... specifically, the trials and tribulations of fixed asset accounting and procedural workflow.
Trials and tribulations? In fixed assets…
By Kathleen Donaghy and Ann Donie
If you were busy with year-end, you may have missed some expired tax incentives and credits that were extended in the Bipartisan Budget Act of 2018 signed into law by the President on February 9, 2018. Typically, these tax breaks are extended yearly for one or two years at a time, usually right at year end. This year they were later than usual and rolled into the bipartisan budget act…
