Berwyn Devon Business & Professional Association met at Devon Manor this month for a special presentation arranged by member Dennis McAndrews of McAndrews Law Firm. McAndrews Law Firm was the recipient of Business of the Year Award in 2010, and Dennis arranged with Graystone Wealth Management of West Chester a seminar on the 2010 Tax Act and the Current Economic Climate.
Randy Cohen of Graystone Wealth Management spoke on the economic climate mentioning that what matters right now is Consumer Confidence, that the Economy continues to recover if only slowly, that Stocks are fairly valued and whether interest rates will lead to inflation or deflation.
Dennis, shown above, and some of his colleagues covered the implication of the 2010 Tax Act and how it might impact members in relation to the Federal Estate Tax, Income Tax changes, key business provisions relating to 100% depreciation allowed by business for for qualified investments placed in service during a specified time frame; direct charitable contributions of IRA distributions of up to $100,000; and two years of alterative minimum tax relief.
It was a very interesting meeting with great information provided and well attended, with Devon Manor providing a wonderful breakfast to those attending. Next meeting will be in April and details can be found at www.BerwynDevonBusiness.com.