Asset Lifecycle Management - PSFT (MOSC)

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How are companies handling tax depreciation on equipment used in employer operated eating facilities

edited Jun 7, 2019 12:52PM in Asset Lifecycle Management - PSFT (MOSC) 6 commentsAnswered

It appears that according to the Tax Cuts and Jobs Act of 2017 that expenses related to employer operated eating facilities (employee cafeterias) are only 50% deductible from 1/1/2018 to 12/31/2025 and then not deductible at all after 2025.  This appears to include depreciation on any equipment used in the facility.  How are companies handling this equipment on tax books inside PeopleSoft?  Are you doing a cost adjustment on the tax book only to cut the cost in half?  Or is there a software update I didn't see that handles this situation?

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