Bruce A. Willey is a respected presence in the Cedar Rapids, Iowa, business community who guides the Willey Law Firm, PC. The firm enables clients to maximize their revenues and minimize tax obligations. Bruce A. Willey focuses on new tax laws and regulations that impact small business owners in Iowa. As reported in Entrepreneur, one tax law that came into effect in 2017 centers on Section 179, bonus depreciation and expensing. Under the expensing provision, capital investments of up to half a million dollars for certain properties can be claimed as expense deductions instead of as depreciated breaks. Made permanent in 2015 with the PATH Act, the bonus depreciation provision does not apply when asset purchases exceed $2 million. With the new rules in place, HVAC units undertaken after December 31, 2015, are eligible as an expense deduction. Another aspect of the bonus depreciation provision is that additional depreciation can be claimed on property during the first year of the recovery period as long as it is put into use between 2015 and 2019.The bonus depreciation is 50 percent for 2015, 2016, and 2017, while in 2018, this drops to 40 percent and in 2019 to 30 percent. This means that businesses may want to look at placing newly purchased, up-to-date equipment in service in 2017 rather than waiting until 2018 or beyond.
A certified public accountant with more than 30 years of experience, Bruce A. Willey serves as a consultant at American Tax Law Planning, LLC, in Cedar Rapids, Iowa. As a professional certified public accountant, Iowa resident Bruce A. Willey is also a member of the American Institute of Certified Public Accountants (AICPA).Established in 1887, the American Institute of Certified Public Accountants was created to act as an advocate for the CPA profession before public interest groups and legislative bodies. The AICPA also features research programs and educational materials that help members stay up-to-date with the latest accounting rules and procedures, as well as increase their skills and knowledge in the industry. One of the programs established by the AICPA is the Chartered Global Management Accountant (CGMA) designation. Members qualify for this designation by passing an exam that demonstrates expertise in business strategy, finance, management and operations. Applicants for the CGMA designation will find resources available in areas including risk management assessment, decision-making, and scenario-planning.
A private practice CPA based in Iowa, Bruce A. Willey is a tax strategist with American Tax Law Planning, LLC in Cedar Rapids. Before launching his career in tax law, Bruce A. Willey received his JD with distinction from the University of Iowa. The JD program at the University of Iowa College of Law includes a variety of practical legal learning opportunities for students. Moot court competitions give second year students the chance to conduct legal research and draft legal briefs, culminating in an oral presentation of their arguments. Appellate advocacy participants with the highest scores have the opportunity to compete in spring competitions such as the Van Oosterhout-Baskerville Domestic Competition and Jessup International Moot Court Competition. Iowa Law also offers a comprehensive clinical law program, where students can put their legal knowledge to use in several distinct practice areas. As interns, students work closely with full-time faculty, handling responsibilities ranging from counseling and negotiation to fact investigation and courtroom appearances.To learn more about legal clinic and advocacy efforts at Iowa Law, visit the official website at law.uiowa.edu.
Bruce A. Willey, attorney and certified public accountant at the Willey Law Firm, PC in Cedar Rapids, Iowa, has been working in his current field for over 20 years, having established his own firm in 1996. A member of the American Academy of Attorneys - Certified Public Accountants, Bruce A. Willey continuously uses this resource to find new methods and resources with which to assist his Iowa-based clientele.The American Academy of Attorney - Certified Public Accountants was founded in 1946, as a simple committee seeking to halt the ban on dual practice. Today, its membership is made up entirely of professional who hold dual qualification as attorneys and certified public accountants. The organization’s mission is to provide top-tier educational resources and opportunities to its members.Accredited by the National Association of State Boards of Accountancy and the Certified Financial Planner Board of Standards, Inc., the AAA-CPA continues to aid the public in finding attorneys or CPAs to meet their individual needs.Conferences take place throughout the year, providing opportunities for those seeking to further their professional knowledge to network and attend sessions related to personal growth. The 2017 Fall Meeting and Education Conference, taking place in Palm Springs, includes panels related to liability insurance and growing one’s business.
