Tax Depreciation Services (TDS)

Are your fixed asset systems tax reform ready?

The 2017 tax reform reconciliation act (the Act), also known as the ‘Tax Cuts and Jobs Act,’ has created an unprecedented need to optimize the recovery and maintenance of fixed assets’ net tax basis for international, federal, and state tax purposes.

Given this complexity, it is understandable why many tax directors have little confidence in the reliability of their depreciation calculations. In addition, many companies do not have enough tax department resources to stay current on the complex regulations affecting fixed asset compliance.

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We can help you with:

  • Automating the import and validation of client asset data each period
  • Tracking book cost with tax adjustments
  • Performing calculations on an unlimited number of federal and state books
  • Supporting bonus depreciation for Federal and State Transition Rules
  • Forecasting depreciation and gain/loss using acquisition and disposition assumptions
  • Producing customized reports including roll forward and book tax difference analysis
  • Appropriately classifying fixed assets for toll charge calculations
  • Calculating the qualified business asset investment (QBAI) required for the GILTI inclusion calculation
  • Calculating the QBAI required for the FDII deduction calculation
  • Tracking and maintaining tax law changes related to state tax depreciation
  • Calculating the gross temporary differences at a state level and forecast the run off of differences

Leveraging technology to tackle the numbers

PwC’s Tax Depreciation Services (TDS) is a scalable and cost-effective technology solution for calculating, tracking, and reporting tax depreciation and amortization. Utilized by nearly 200 companies to manage more than 45 million assets each month for over 3,000 legal entities, it is one of the largest and most reliable tax depreciation solutions available in the market.

A tax reform solution

An important part of adapting to tax reform is being able to support E&P depreciation and asset basis calculations for foreign owned/foreign operations. Tax reform also has enhanced the need for state specific depreciation calculations for those states that decouple from bonus depreciation.

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Anne Andrews

Anne Andrews

Partner, PwC US

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