KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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Contract sale / Comment on MIA customer / PPP news
January 1, 2021
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THE SALE RUNS THROUGH JANUARY 12, 2021. ORDERS ARE FILLED AS RECEIVED [UP TO 6 WEEKS WAIT for sale orders - longer for update orders]
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Happy and healthy New Year to all. I hope 2021 will be healthy, happy and prosperous New Year. Here's K&K's way of helping you achieve that goal. It's our annual Start The-Year-Off Right Contract Sale. The Standard Form Agreements are all updated and ready. Contracts purchased within past 4 months are already updated.
2021 updated contracts are ON SALE now; SAVE THOUSANDS DURING THIS SALE
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NOTICE:
The Standard Form Agreements have been updated for 2021. If your contracts are from 2019 or earlier you need to update. If you have a 2020 Contract the Contracts were updated throughout 2020 and you should check with our Contract Administrator, Eileen Wagda, at 516 747 6700 ext 312 to see if your forms need updating. Contracts purchased after September 1, 2020 are already updated. Keep in mind that updates are free for 6 months and half price for 12 months from your original order date. Requests for updates will be processed after the new orders are processed. The sale ends January 12, 2021; the sooner you order the sooner you will get the contracts.
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How to order: order at www.alarmcontracts.com ordering is easy - order on-line during the sale and save thousands of dollars. Need help ordering? Call our Contract Administrator Eileen Wagda at 516 747 6700 x 312 for assistance. Concierge Clients can call our Concierge Program Coordinator Stacy Spector, Esq for assistance at 516 747 6700 x 304. Concierge Client receive an additional 10% off the sale price. You can join the Concierge Program before ordering to receive the discount.
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Contract sale starts now and runs through January 12, 2021, ending at midnight EST. The discount will be applied orders received between now and January 12, 2020 by midnight*. This will definitely be the best deal of 2021. If you have K&K Contracts changes have been made and you should check with our Contract Administrator, Eileen Wagda, at 516 747 6700 ext 312 to see if your form needs updating. We starting adding the updates several months ago so you may be up to date. Keep in mind that our updates are free for 6 months and half price for 12 months from date of purchase***. Updates will be prepared and sent out after the new orders are processed. The sale ends January 12, 2021, so please be patient. When you place the order the full price will come up. We will apply the discount manually when we process the order. Contracts will be delivered by email only.
Here's the deal:
Buy 1 All in One Residential, Commercial or Fire All in One and get $100 off and $50 off Disclaimer Notice Save up to $150.
Buy 2 All in One forms and get $100 off first and $200 off second and $75 off Disclaimer Notice and $100 off alarm.com rider and $100 off the Honeywell rider. Save up to $575.
Buy 3 or more All in One forms and get same as above and $300 off the third form and $400 off the fourth form. Save up to $1275.00 [Residential, Commercial, Fire, Home Automation]
Commercial Mobile Surveillance Lease $1000. Save $500
Fire All in One with Security Rider $1250.00. Save $400.00 Add the Commercial Fire All in One and the Commercial All in One and get $200 off each. Save $800.00
Qualifier Agreement $1200.00 Save $300.00
Digital Sign And Display Sales, Hosting And Service $437.50 save 50% $437.50
Computer Consulting and Service $437.50 save 50% $437.50
Nationwide DIY with monitoring. $3500.00 Save $1000.00**
Nationwide PERS with or without GPS tracking. $3500.00 Save $1000.00**
* Your order must be placed on line at www.alarmcontracts.com and received by our office no later than January 12, 2021 by midnight EST. Orders must contain valid credit card payment and be processed; you will receive confirmation. Fill out the order form; the full prices will show and we will apply the discount before processing the order. Orders arriving after sale ends will be processed at regular published rates. Orders will be processed in order received. Rush orders, delivered by email within 48 hours, add 15% - call Eileen to process.
Concierge Clients will receive their Concierge Program Discount on the Sale Price. Sign up for the Concierge Program before placing your contract order to receive the additional discount.
** Does not include consultation or modification
What's our Guarantee policy re updates?
Free updates within 6 months of purchase***
Half price within 6 months to 1 year***
*** applies to original purchase only
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Comment on MIA customer from December 26, 2020 / is it timer problem?
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Ken
Re the customer MIA. I assume the indication for MIA communicator is missed test timer. If this began at the time of daylight savings time change (first weekend of November) it may be a firmware problem with the alarm panel. I have experienced this problem. Panel is still communicating. Reset expected test timer time and test timers are again coming in. Or replace panel.
Lynn Gai
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Response
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Thanks for the tip regarding change to Daylight Saving Time. I haven't heard from anyone with that issue. The MIA customer had more issues than "no test signal"; this customer did not respond to telephone, email, letters or text. The only connection that seemed to be working is the automatic payment each month, and my sage advice was to keep accepting the payment; exactly as the contract with the customer calls for.
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PPP news [as of Dec 24 2020]
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Ken,
The U.S. Senate and House of Representatives overwhelmingly passed a $900 billion COVID-19 relief bill Monday night
The legislation, the Consolidated Appropriations Act, 2021, also ensures tax deductibility for business expenses paid with forgiven Paycheck Protection Program (PPP) loans, provides fresh PPP funding, makes Sec. 501(c)(6) not-for-profit organizations eligible for loans for the first time, and offers businesses facing severe revenue reductions the opportunity to apply for a second loan. PPP2 loans will be available to first-time qualified borrowers and, for the first time, to businesses that previously received a PPP loan. Specifically, previous PPP recipients may apply for another loan of up to $2 million, provided they have 300 or fewer employees and have used or will use the full amount of their first PPP loan and can show a 25% gross revenue decline in any 2020 quarter compared with the same quarter in 2019. The bill allows borrowers that returned all or part of a previous PPP loan to reapply for the maximum amount available to them.
To be eligible for full loan forgiveness, PPP borrowers will have to spend no less than 60% of the funds on payroll over a covered period of either eight or 24 weeks — the same parameters PPP1 had when it stopped accepting applications in August.
PPP borrowers may receive a loan amount of up to 2.5 times their average monthly payroll costs in the year prior to the loan or the calendar year, the same as with PPP1, but the maximum loan amount has been cut from $10 million in the first round to the previously mentioned $2 million maximum. PPP borrowers with NAICS codes starting with 72 (hotels and restaurants) can get up to 3.5 times their average monthly payroll costs, again subject to a $2 million maximum.
The new COVID-19 relief bill also:
Creates a simplified forgiveness application process for loans of $150,000 or less. Specifically, a borrower shall receive forgiveness if a borrower signs and submits to the lender a certification that is not more than one page in length, includes a description of the number of employees the borrower was able to retain because of the loan, the estimated total amount of the loan spent on payroll costs, and the total loan amount. The SBA must create the simplified application form within 24 days of the bill’s enactment and may not require additional materials unless necessary to substantiate revenue loss requirements or satisfy relevant statutory or regulatory requirements. Borrowers are required to retain relevant records related to employment for four years and other records for three years, as the SBA may review and audit these loans to check for fraud.
Repeals the requirement that PPP borrowers deduct the amount of any EIDL advance from their PPP forgiveness amount.
Includes set-asides to support first- and second-time PPP borrowers with 10 or fewer employees, first-time PPP borrowers that have recently been made eligible, and for loans made by community lenders.
You can read Mitch's article in SSI at https://www.securitysales.com/business/coronavirus-relief-bill/
Mitch Reitman
Reitman Consulting Group
Fort Worth, TX
817-698-9999
http://www.reitman.us
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Response
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Because these articles are prepared in advance this information may be "old news" or "fake news" by the time you get this article. Congress passed the bill but President Trump has, as of Dec 26 2020, refused to sign it as drafted. Hopefully by the time you get this article the legislation will be enacted as law.
For just about every PPP borrower the most important issue is deducting the PPP forgivable loan proceeds. IRS tried denying the deduction but Congress has made its intent known. This provision is likely to be in any covid relief law. K&K PPP clients have been updated. Mitch is happy to take a call to assist you. Start the year off right and get with the number one alarm accountant and tax advisor in the US.
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To order up to date Standard Form Alarm / Security / Fire and related Agreements, click here: www.alarmcontracts.com
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CONCIERGE LAWYER SERVICE PROGRAM FOR THE ALARM INDUSTRY
You can check out the program and sign up here: https://www.kirschenbaumesq.com/page/concierge or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304.
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NOTICE: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles
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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301
ken@kirschenbaumesq.com
www.KirschenbaumEsq.com
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