Financial Professionals Event Hosted by C&D llp

C&D llp hosted its annual luncheon on October 29th at the Alisal Guest Ranch for over 70 financial professionals. The event has been hosted by C&D since 1994, and has become a favorite of financial professionals throughout the County. Attendees included bankers, investment advisors, trust officers, attorneys and appraisers from leading firms both in Santa Ynez Valley and the Central Coast.

Partner, Stephen B. Palmer, CPA, opened the event by welcoming guests and introducing C&D Partners and staff in attendance.

The program titled Making Sense of Fed (in)actions: Results from the October Federal Reserve Meeting was presented by Dr. Peter Rupert, Director, UCSB Economics Forecast Project, Professor and Chair Department of Economics, UCSB. Dr. Rupert touched on several topics affecting the local, national and world economy. He highlighted challenges the Board of Governors at the Federal Reserve face when performing their duties. Disparate data on a variety of indices, including job growth, unemployment, gross domestic product, consumer spending and housing were all considered in their decision not to increase the federal funds rate at their meeting the previous day. Although economic growth was described as "moderate", the continued "softness" in job creation appeared to be the most significant factor.

C&D Managers, Kyle Gotcher and Heather Gauld, CPA, presented an overview of the Tangible Property Regulations that were effective for the 2014 year. These regulations represented an overhaul of the depreciation and capitalization rules used by businesses. They are the culmination of a decade long process by the Internal Revenue Service to revamp these rules to provide consistent guidelines for business in making the determination of whether to expense or capitalize a specific expenditure. Implementation of the new rules provided opportunities for corrections to previously filed returns, specific procedures for making important tax elections and filings to ensure compliance.

Partner, Michael J. Sgobba, CPA, closed the event by thanking everyone for taking the time to attend; encouraging them to contact us with any questions and to visit our website for more resources; and to sign up for our newsletter.