Alarm Dealer on Mission to Help Others Catch Tax Break
PASCO, Wash. — Little did Mike Miller know that when the American Jobs Creation Act of 2004 was enacted, a little windfall would be heading his way.
Miller is vice president of Moon Security Services Inc. of Pasco, Wash. His accountant approached him recently with the good news. “I couldn’t believe he was telling me we received a $3,300 tax credit for the 2005 taxes,” Miller says.
The legislation changed Section 199 of the tax code and allows some companies to take a deduction of up to 3 percent of taxable proceeds. By 2010, the deduction increases to 10 percent. As treasurer of the National Burglar Fire Alarm Association (NBFAA), Miller is on a crusade to inform alarm dealers to have their accountants determine if they, too, qualify for the tax break.
“Here is the power of networking through your membership with NBFAA,” he says. “Here is a way to save some money. All of our members should be looking into this.”
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Commercial Integrator + Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add to your bottom line.
A FREE subscription to the top resource for security and integration industry will prove to be invaluable.