WESTPORT, Conn. - John Belpedio of Westport has joined WTP Advisors in New York and will lead its national Fixed Asset practice.
Belpedio will advise clients on issues surrounding federal tax depreciation. He is a cost segregation expert who spent the last 20 years in public accounting, of which the last 10 years were spent as the practice leader of Fixed Assets in the New York metro region.
He has worked with manufacturers, retailers and utility companies to find ways to increase depreciation deductions and offset taxable income. He has been employed by more than 200 companies, for which he has done fixed asset depreciation and cost segregation studies involving more than $10 billion in real property additions.
“This dual knowledge lends itself to several efficiencies when performing a study,” said Michael Minihan, a co-founding partner at WTP Advisors. “The bottom line is that you need someone like John Belpedio who knows about both areas if you want to maximize your deductions, and firms without this skill might be leaving money on the table.”
Belpedio explained that he keeps up with current tax laws, such as the tangible property regulations that were issued by the IRS last September. While some companies may put off addressing this until their 2014 tax returns, he said it is best not to wait.
“This is ill-advised due to the fact that there are many provisions in which clients could be on a method that is no longer advisable or may not be taking advantage of some of the favorable provisions,” he said. "Pending tax reform – and a possible reduction in tax rate – it definitely would make sense for companies to perform a retroactive fixed asset study prior to the change in tax rate in order to realize permanent tax savings.”
Belepedio previously worked as a senior leader at PwC and Grant Thornton in the New York Metro area. He graduated from Rockhurst University with a bachelor’s degree in finance and economics and is an enrolled agent and certified member of the Institute for Professionals in Taxation.
- 1 Elderly Woman Mauled By Dog Dies At Bridgeport Hospital
- 2 New York City Buyer Purchases Office Building On Westport's Post Road West
- 3 Historic Westport Estate Moved To New Home Across The Street
- 4 Bridgeport National Guard Member Killed By Unsafe Lane Change, Police Say
- 5 Where To Eat Out In And Around Westport On Thanksgiving