Asset Lifecycle Management - PSFT (MOSC)

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Bonus Depreciation - PATH ACT of 2015

edited Feb 18, 2016 1:24PM in Asset Lifecycle Management - PSFT (MOSC) 8 commentsAnswered

Good Morning,

Due to the passing of the PATH ACT of 2015 there are two new changes that affect Fixed assets:

1) The 15-year tax life on qualified leasehold improvements have been made permanent effective 2015.

2) Bonus depreciation has been extended for 5 years. There will be 50% bonus depreciation for 2015-2017, 40% bonus in 2018, and 30% bonus in 2019. There will be no more bonus depreciation after 2019.

Has a patch been put in place to account for these changes, and if so what is the best way to implement the patch?

Any insight is greatly appreciated.

Thank you,

Syed Rizvi

PeopleSoft Financials Programmer - HMS Host

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