Seek An Appraisal
works of art may be ideal candidates for lifetime charitable
Generally, it's advantageous to donate appreciated property
because, in addition to reducing your taxable estate and
garnering an income tax deduction, you avoid capital gains
taxes on the appreciation. Because the top capital gains rate
for art and other "collectibles" is 28%, donating art is
you're considering such a donation, it's critical that you get
an appraisal. Most art donations require a "qualified
appraisal" by a "qualified appraiser," and IRS rules contain
detailed requirements about the qualifications an appraiser
must possess and the contents of an appraisal.
auditors are required to refer all gifts of art valued at
$20,000 or more to the IRS Art Advisory Panel. The panel's
findings are the IRS's official position on the art's value,
so it's important to provide a solid appraisal to support your
be aware of the related-use rule. To qualify for a full
fair-market-value deduction, the charity's use of the artwork
must be related to its tax-exempt purpose, such as an art
museum displaying your donated painting. An animal shelter
auctioning off your donated painting in a fundraiser wouldn't
The rules surrounding donations of art are complex. We can
help you achieve your charitable goals while maximizing your
tax benefits. Please check back with us for how to do this at
SMEED CPA Adds Financial
Services To Help Clients With
Investments & Insurance
often we here at SMEED CPA are asked about financial issues
that impact our clients investments and their portfolios.
We always offered our opinion and suggestions but in order to
help our clients actually execute the changes we suggest,
SMEED has created a Financial Services division.
SMEED Financial Services, Inc. will be able to
work with both individual and business clients on their
investment portfolios and manage assets on their behalf.
SMEED Financial will include Michael Uadiale,
ACA, CPA, CGMA; and Pablo Blanco who has
recently joined SMEED and comes with over 18 years of
financial sales and advising experience with affluent
Watch your inbox and mail boxes for more specific information
on services SMEED Financial Services, Inc will make available
Would You Give Me Your
Feedback & Testimonial
on Our Hotline?
Hello it’s Michael Uadiale, CPA of
SMEED CPA Inc. We’ve just installed a toll-free
number that I would like for you to call and tell me how you
think we are doing as your CPA firm.
Just dial 800-609-9006
extension 3638 and follow the instructions. If we’ve
done a good job please let me know. And if we can
improve on anything, please mention that too.
Us Be Found on
Also as we expand our business,
we find more and more people are using
YELP and Google
to look for us by searching Brentwood accountant or
When they do this we want to
be FOUND on GOOGLE. One way you can help us
is to give us an
ONLINE REVIEW on our Google Maps/Places listing --->
or on our YELP local listing
click here to go to our Google Listing for SMEED CPA and
click on the
YELP link to go there.
Scroll down to the Review area.
On either site it may say: Been here?
Rate and review
You will click on the Rate and
review link and then log in, then
give us a review!
You can choose between 1 and 5
STARS and write in what you think about the tax or accounting
work we have done for you.
It's that simple. Thank
you in advance for your help and cooperation!
As always you can call our offices if you have any
questions about these or any other accounting related issues, at
Regards, Michael Uadiale, CPA,
Managing Partner, SMEED CPA,