Sage Fixed Assets users get extra relief from 2008 Federal Economic Stimulus Act
By Manufacturing Business Technology Staff -- Manufacturing Business Technology, 3/21/2008 9:37:00 AM
Sage Software reports general availability of the Sage FAS Fixed Asset Economic Stimulus Service Update 2008.1.1. A response to the Federal Economic Stimulus Act of 2008, the Service Update gives Sage FAS customers an easy way to maximize tax benefits under depreciation provisions expanded by the new law.
Several business investment incentives that positively impact Sage FAS customers are contained within the new Economic Stimulus law and are supported by the Sage FAS Fixed Asset Economic Stimulus Service Update. Specifically, the Update provides customers of FAS Fixed Assets, Sage MAS Fixed Assets, and FAS for Peachtree with updated benefits support in two main areas:
IRC Section 179—For qualified assets placed in service in tax years beginning in 2008:
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An increase nearly double the original 2008 limit per asset from $128,000 to $250,000.
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An increase of the overall investment limit to $800,000.
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An increase for qualified Enterprise Zone property to $285,000.
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An increase for qualified Go Zone property to $350,000.
IRC Section 168(k)—50-percent bonus depreciation for qualified property placed in service in 2008:
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50-percent bonus depreciation allows expensing on most types of property with a recovery period of 20 years or less, such as machinery, equipment, computers, furniture, fixtures, and certain software.
The Service Update is available for existing customers to download on the FAS SupportPlus Online web site.
