Why it's Time to
Start Tax Planning for 2016
that the April 18 income tax filing deadline has passed, it
may be tempting to set aside any thought of taxes until year
end is approaching.
But don't succumb. For maximum
tax savings, now is the time to start tax planning for 2016.
A tremendous number of variables affect your overall tax
liability for the year. Starting to look at these variables
early in the year can give you more opportunities to reduce
your 2016 tax bill.
For example, the timing of income and deductible expenses can
affect both the rate you pay and when you pay. By regularly
reviewing your year-to-date income, expenses and potential
tax, you may be able to time income and expenses in a way that
reduces, or at least defers, your tax liability.
In other words, tax planning shouldn't be just a year-end
In recent years, planning early has been a challenge because
there were a lot of expired tax breaks where it was uncertain
whether they'd be extended for the year. But the Protecting
Americans from Tax Hikes Act of 2015 (PATH Act) extended a
wide variety of tax breaks through 2016, or, in some cases,
later. It also made many breaks permanent.
For example, the PATH Act made permanent the deduction for
state and local sales taxes in lieu of state and local income
taxes and tax-free IRA distributions to charities for account
holders age 70½ or older. So you don't have to wait and see
whether these breaks will be available for the year like you
did in 2014 and 2015.
To get started on your 2016 tax planning, contact us. We can
discuss what strategies you should be implementing now and
throughout the year to minimize your tax liability. 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,