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OFFICES:
14100 San Pedro, Ste. 530
San Antonio, Tx 78232
Phone: 210-495-4424
Fax: 210-495-7747
2108 Hunter Rd., Ste. 104
San Marcos, Tx 78666
Phone: 512-353-0800
Fax: 512-396-4094
www.cookcpas.com
Toll Free: 1-866-641-9609
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 Our new San Antonio home:
14100 San Pedro, Ste 530
Rebate: An eligible individual will receive a basic credit equal to the greater of: (1) his net income tax liability up to a maximum of $600 ($1,200 for a joint return); or (2) $300 ($600 for a joint return) if either (a) the taxpayer's qualifying income is at least $3,000; or (b) his net income tax liability is at least $1 and gross income is greater than the sum of the applicable basic standard deduction amount and one personal exemption (two personal exemptions for a joint return). Qualifying income is earned income generally, veterans' disability payments (including payments to survivors of disabled veterans), and social security benefits. There will be an additional $300 per-child credit amount.
The amount of the rebate (both the basic and the child's amount) phases out at a rate of 5% of adjusted gross income (AGI) above $75,000 ($150,000 for joint returns). The rebate won't be available if an individual's tax return does not include valid identification numbers. A valid identification number is a Social Security Number issued by the Social Security Administration, and does not include a Taxpayer Identification Number issued by the Internal Revenue Service.
Sec. 179 depreciation: Under current law, taxpayers can expense up to $128,000 of new capital asset purchases for 2008. This annual expensing limit is reduced by the amount by which the cost of qualifying property placed in service during 2008 exceeds $510,000. The amount of the expensing deduction is limited to the amount of taxable income from any of the taxpayer's active trades or businesses. For tax years beginning in 2008, the Stimulus Act will increase the $128,000 expensing limit to $250,000 and boosts the overall investment limit from $510,000 to $800,000.
Bonus first-year depreciation: Bonus first year depreciation was first allowed following the terrorist attacks of 2001 but under current law generally isn't available for property acquired after 2004. The Stimulus Act will permit a bonus first-year depreciation deduction of 50% of the adjusted basis of qualified property acquired and placed in service after Dec. 31, 2007, and before Jan. 1, 2009. The types of property eligible for bonus depreciation will be the same as those eligible under earlier bonus depreciation packages: (1) tangible property with a recovery period not exceeding 20 years; (2) purchased computer software; (3) water utility property; and (4) qualified leasehold improvement property. Bonus depreciation will be allowed for alternative minimum tax (AMT) as well as for regular tax purposes.
Home Healthcare Business Support
We offer a variety of accounting and financial services for the Home Healthcare Industry. These services include state and federal Cost Reports, customized general ledgers and payroll services.
OUR MISSION......
We are in business to enhance the value of our clients' assets.
We build that value by providing expertise, experience and innovation.
We build value by applying insight with perception and vision.
We build value by being unafraid of future challenges while being respectful and mindful of previous events.
We build value by preparing our client for long-term rewards while recognizing the importance of short-term achievement.
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 "The Riverwalk"
Let us do it all! Outsourcing the accounting function has proven to be both cost effective and efficient
Wealth Management...
Wealth Management is the consolidation of all financial affairs of an individual or business with a single firm.
Governmental and Non-profit Services
Whether it is simple financial advise or complex governmental A-133 single audits, our firm can provide your organization with professional services delivered in a timely manner, at reasonable fees.
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