2 Benefits-Related Tax Credits
credits reduce tax liability dollar-for-dollar, making them
Two valuable credits are
especially for small businesses that offer certain employee
benefits. Can you claim one — or both — of them on your 2015
Small employers (generally those with 100 or fewer employees)
that create a retirement plan may be eligible for a $500
credit per year for three years. The credit is limited to 50%
of qualified startup costs.
Of course, you generally can deduct contributions you make to
your employees' accounts under the plan. And your employees
enjoy the benefit of tax-advantaged retirement saving.
health care credit
The maximum credit is 50% of group health coverage premiums
paid by the employer, provided it contributes at least 50% of
the total premium or of a benchmark premium. For 2015, the
full credit is available for employers with 10 or fewer
full-time equivalent employees (FTEs) and average annual wages
of $25,000 or less per employee. Partial credits are available
on a sliding scale to businesses with fewer than 25 FTEs and
average annual wages of less than $52,000.
To qualify for the credit, online enrollment in the Small
Business Health Options Program (SHOP) generally is required.
In addition, the credit can be taken for only two years, and
they must be consecutive. (Credits taken before 2014 don't
all the credits you're entitled to
If you're not sure whether you're eligible for these credits,
we can help. We can also advise you on what other tax credits
you might be eligible for when you file your 2015 return. Call us 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,