By SEMA Washington, D.C., Staff

The U.S. House of Representatives has passed legislation to renew more than 50 tax breaks for businesses and individuals that expired at the end of 2013. While many members of Congress were looking to permanently extend some of the tax credits and deductions, the bill (HR 5771) simply renews key tax breaks through the end of 2014, including tax credits for research & development (R&D) and equipment depreciation. The U.S. Senate is expected to approve the measure and send to the President to be enacted into law.

Of key importance to SEMA members, the bill supports investment in company products and equipment. It extends the R&D tax credit through 2014. It also extends the IRS Section 179 provision in effect from 2010 to 2013 by allowing companies to write off 100% of their capital investments placed in service during 2014, up to $500,000. Without the extension, the amount would have been $25,000. The bill also increases the number of companies eligible to take the write off by increasing the amount a business can invest in equipment, from $200,000 to $2 million.

The bill also extends the “bonus depreciation” through 2014, allowing businesses to write off 50% of capital investments in the first year. (Unlike Section 179 expensing, there is no limit on applying the bonus depreciation.) For more information, contact Eric Snyder at erics@sema.org.

By SEMA Washington, D.C., Staff

The U.S. House of Representatives has passed legislation to renew more than 50 tax breaks for businesses and individuals that expired at the end of 2013. While many members of Congress were looking to permanently extend some of the tax credits and deductions, the bill (HR 5771) simply renews key tax breaks through the end of 2014, including tax credits for research & development (R&D) and equipment depreciation. The U.S. Senate is expected to approve the measure and send to the President to be enacted into law.

Of key importance to SEMA members, the bill supports investment in company products and equipment. It extends the R&D tax credit through 2014. It also extends the IRS Section 179 provision in effect from 2010 to 2013 by allowing companies to write off 100% of their capital investments placed in service during 2014, up to $500,000. Without the extension, the amount would have been $25,000. The bill also increases the number of companies eligible to take the write off by increasing the amount a business can invest in equipment, from $200,000 to $2 million.

The bill also extends the “bonus depreciation” through 2014, allowing businesses to write off 50% of capital investments in the first year. (Unlike Section 179 expensing, there is no limit on applying the bonus depreciation.) For more information, contact Eric Snyder at erics@sema.org.

By SEMA Editors

The SEMA Member Benefits Manual is now available online.

SEMA members now have access to the Member Benefits Manual online, where they can download updates or print additional copies for their company.

The Benefits Manual is designed to help members align the association’s offerings with their company’s unique needs—whether they’ve just joined or want to take the next step. This reference tool is the key for members who want to become more engaged in the association.

Check back regularly to download updates or additional copies of the complete manual.

By SEMA Editors

The SEMA Member Benefits Manual is now available online.

SEMA members now have access to the Member Benefits Manual online, where they can download updates or print additional copies for their company.

The Benefits Manual is designed to help members align the association’s offerings with their company’s unique needs—whether they’ve just joined or want to take the next step. This reference tool is the key for members who want to become more engaged in the association.

Check back regularly to download updates or additional copies of the complete manual.

	Previous Town Hall Meetings have been held at various SEMA-members' headquarters, including Coker Tire in Chattanooga, Tennesee. The next one will be held January 23, 2015, at the SEMA Garage in Diamond Bar, California.

SEMA invites industry professionals to the first Town Hall Meeting of 2015, taking place Friday, January 23, from 6:00 p.m.–9:00 p.m., at SEMA’s headquarters in Diamond Bar, California. Members and prospective members will gather at the new SEMA Garage (adjacent to the association’s main offices) for an evening of networking with local industry leaders and the SEMA team.

SEMA's Town Hall Meetings provide both members and prospective members with the opportunity to learn about the association's current programs and objectives while networking with automotive aftermarket professionals from the same geographic region. These personal interactions give members a chance to share the business challenges and opportunities they face. As SEMA staff interact with attendees, they also gain valuable feedback, which helps identify how current benefits can enhance members’ business operations to better meet their needs.

For more information or to register, visit SEMA's Town Hall Meetings website or contact Andrea “AJ” Carney at 909-978-6697 or andreac@sema.org.

	Previous Town Hall Meetings have been held at various SEMA-members' headquarters, including Coker Tire in Chattanooga, Tennesee. The next one will be held January 23, 2015, at the SEMA Garage in Diamond Bar, California.

SEMA invites industry professionals to the first Town Hall Meeting of 2015, taking place Friday, January 23, from 6:00 p.m.–9:00 p.m., at SEMA’s headquarters in Diamond Bar, California. Members and prospective members will gather at the new SEMA Garage (adjacent to the association’s main offices) for an evening of networking with local industry leaders and the SEMA team.

SEMA's Town Hall Meetings provide both members and prospective members with the opportunity to learn about the association's current programs and objectives while networking with automotive aftermarket professionals from the same geographic region. These personal interactions give members a chance to share the business challenges and opportunities they face. As SEMA staff interact with attendees, they also gain valuable feedback, which helps identify how current benefits can enhance members’ business operations to better meet their needs.

For more information or to register, visit SEMA's Town Hall Meetings website or contact Andrea “AJ” Carney at 909-978-6697 or andreac@sema.org.

	Previous Town Hall Meetings have been held at various SEMA-members' headquarters, including Coker Tire in Chattanooga, Tennesee. The next one will be held January 23, 2015, at the SEMA Garage in Diamond Bar, California.

SEMA invites industry professionals to the first Town Hall Meeting of 2015, taking place Friday, January 23, from 6:00 p.m.–9:00 p.m., at SEMA’s headquarters in Diamond Bar, California. Members and prospective members will gather at the new SEMA Garage (adjacent to the association’s main offices) for an evening of networking with local industry leaders and the SEMA team.

SEMA's Town Hall Meetings provide both members and prospective members with the opportunity to learn about the association's current programs and objectives while networking with automotive aftermarket professionals from the same geographic region. These personal interactions give members a chance to share the business challenges and opportunities they face. As SEMA staff interact with attendees, they also gain valuable feedback, which helps identify how current benefits can enhance members’ business operations to better meet their needs.

For more information or to register, visit SEMA's Town Hall Meetings website or contact Andrea “AJ” Carney at 909-978-6697 or andreac@sema.org.

The shooters at KGP Photography caught a production-spec prototype for the upcoming Scion iM testing in Southern California.

The Scion iM concept that debuted at last week's L.A. Auto Show is much more edgy than the production reality (shown here) appears to be. The production iM may not inject quite the hot-hatch excitement suggested by the fetching blue concept in Scion's L.A. stand.

The Scion iM concept sported a wide-body package not found on these prototypes. The concept's aggressive front fender is thoroughly toned down behind the camouflage, and its resulting front fender flare is a no-show, as well. The production iM's European Toyota Auris roots are showing much more clearly than has been suggested by the iM concept.

Photo credit: KGP Photography

The shooters at KGP Photography caught a production-spec prototype for the upcoming Scion iM testing in Southern California.

The Scion iM concept that debuted at last week's L.A. Auto Show is much more edgy than the production reality (shown here) appears to be. The production iM may not inject quite the hot-hatch excitement suggested by the fetching blue concept in Scion's L.A. stand.

The Scion iM concept sported a wide-body package not found on these prototypes. The concept's aggressive front fender is thoroughly toned down behind the camouflage, and its resulting front fender flare is a no-show, as well. The production iM's European Toyota Auris roots are showing much more clearly than has been suggested by the iM concept.

Photo credit: KGP Photography

The shooters at KGP Photography caught a production-spec prototype for the upcoming Scion iM testing in Southern California.

The Scion iM concept that debuted at last week's L.A. Auto Show is much more edgy than the production reality (shown here) appears to be. The production iM may not inject quite the hot-hatch excitement suggested by the fetching blue concept in Scion's L.A. stand.

The Scion iM concept sported a wide-body package not found on these prototypes. The concept's aggressive front fender is thoroughly toned down behind the camouflage, and its resulting front fender flare is a no-show, as well. The production iM's European Toyota Auris roots are showing much more clearly than has been suggested by the iM concept.

Photo credit: KGP Photography