- Depreciation Breaks Extended!
much of this year, uncertainty surrounded whether Congress
would extend relief in the area of depreciation-related tax
On December 18, clarity finally arrived with the passage of
the Protecting Americans from Tax Hikes Act of 2015 (the PATH
Act). Here's a look at the impact on two "classic"
Enhanced Section 179 expensing
election. In 2014, Sec. 179 permitted companies to
immediately deduct, rather than depreciate, up to $500,000 in
qualified new or used assets. The deduction was phased out,
dollar for dollar, to the extent qualified asset purchases for
the year exceeded $2 million. Under the PATH Act, these
amounts have been made permanent (indexed for inflation
beginning in 2016) rather than allowed to fall to much lower
50% bonus depreciation. In
2014, this provision allowed businesses to claim an additional
first-year depreciation deduction equal to 50% of qualified
asset costs. Bonus depreciation generally was available for
new (not used) tangible assets with a recovery period of 20
years or less, and certain other assets. That 50% amount has
been extended for the 2015, 2016 and 2017 tax years. But it
will drop to 40% for 2018 and 30% for 2019.
To reap these benefits on your 2015 tax return, you must
acquire qualified assets and place them in service by December
31, 2015. These are but a few of the ways the PATH Act affects
business tax planning. Please contact us for more information.
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,