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Asset Depreciation
Fixed Asset & Tax Depreciation
Persona:
Professional Plan
Module 06 • Fixed Asset & Tax Accounting
Fixed Asset Depreciation & Tax Scheduler Sec 179 Engine
Calculate Straight-Line Book Depreciation vs. Accelerated Section 179 / Bonus Tax writeoffs and export year-end balancing journal entries with 1 click.
i How to Manage Fixed Asset Depreciation in 3 Simple Steps
1
Log Asset Basis
Input asset name, purchase date, cost basis, estimated salvage value, and useful life (e.g. 5 or 7 years).
2
Book vs. Tax Comparison
View side-by-side Straight-Line Book depreciation versus accelerated Section 179 / Bonus first-year tax writeoffs.
3
Export EOY Journal Entries
Export ready-to-post general journal CSVs: Debit Depreciation Expense (#6500) and Credit Accumulated Depreciation (#1750).
Total Asset Cost Basis
$135,900.00
4 Registered Fixed Assets
Book Depreciation (FY26)
$21,794.28
Straight-Line GAAP Method
Tax Depreciation (FY26)
$135,900.00
Section 179 Accelerated 100%
Book-Tax Timing Variance
+$114,105.72
Schedule M-1 Deferred Tax Item
Fixed Asset Register & Depreciation Schedule (FY 2026)
Straight-Line (Book) vs. Section 179 (Tax) comparison matrix
| Asset Name & Tag | Acquired | Cost Basis | Salvage | Life | Book Depr (SL) | Net Book Val | Tax Depr (S179) | Timing Diff |
|---|---|---|---|---|---|---|---|---|
|
MacBook Pro M3 Max Engineering Fleet (10 units)
AST-2026-MBP10 • Computer & Technology Assets
|
2026-01-15 | $38,500.00 | $3,500.00 | 5 yrs | $7,000.00 | $31,500.00 | $38,500.00 | +$31,500.00 |
|
Steelcase Executive Office Furniture & Ergonomic Desks
AST-2026-FURN4 • Furniture & Fixtures
|
2026-02-01 | $18,400.00 | $1,840.00 | 7 yrs | $2,365.71 | $16,034.29 | $18,400.00 | +$16,034.29 |
|
Ford Transit High-Roof Delivery Van
AST-2026-VAN02 • Automobiles & Vehicles
|
2026-03-10 | $54,200.00 | $8,000.00 | 5 yrs | $9,240.00 | $44,960.00 | $54,200.00 | +$44,960.00 |
|
Industrial Heavy-Duty Warehouse Cantilever Shelving
AST-2026-SHLV08 • Machinery & Equipment
|
2026-04-01 | $24,800.00 | $2,480.00 | 7 yrs | $3,188.57 | $21,611.43 | $24,800.00 | +$21,611.43 |
End-of-Year Adjusting Journal Entry (Auto-Generated)
Debit Line (Expense)
Account #6500 - Depreciation Expense
$21,794.28
Credit Line (Contra-Asset)
Account #1750 - Accumulated Depreciation
$21,794.28