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Follow up - leasing v selling from January 7, 2014
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Ken,
Re: the comments by Robert Kleinmen of AFA; He is right on in a number of his comments, but he should have mentioned that so-called “lease systems” will, depending on local taxing authorities, be subject to personal property tax, which could make a big difference to the dealer in his ROI calculation.
Thanks again for sponsoring this forum, it is a winner.
Tony Smith
Security Funding Associates, Inc.
Marketing and Financial Advisory Services
Tujunga, CA 91042
(626) 795-9199
(626) 705-4098-Cell
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Response
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Some states have sales tax, others use tax, and other taxes I have no idea about. Check with your accountant or tax counsel about how taxes affect your business model.
You may find that leasing your systems gives you the control over the accounts and added RMR so that any tax disadvantage is offset. Also, subscribers will like leasing because they can take the deduction on the lease payments rather than depreciate [I think].
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video signs question
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Ken
I read your emails all the time and thought you might have an answer to my customers questions. He has a crazy neighbor . He is asking me the following:
"Neighbor decided to put up a sign on the side of the driveway that states: No recording devices allowed audio or video. Since I put up the security cameras is there anything I need to be concerned about or is it just my neighbor once again showing how paranoid he is."
Does he need to do anything. The cameras are not pointed at the neighbors property.
Joseph Garetano
Greenlawn, NY
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Response
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As long as the video is not focused primarily on the neighbors property, so that the viewing of his property is incidentle, I think it's permissible. Recording or listening audio is not permissible. Misuse of any data, audio or video, will get your subscriber into plenty of trouble, civil and criminal.
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Paperwork for subcontractors
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Ken,
We have a security technician in our area that we contract some service work to
occasionally. He does this work for other companies and his own. Is there something
we need to have him sign so he can't steal our accounts that he is servicing?
Thanks,
Megan
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Response
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Yes, the Standard Subcontactor agreement. It has restrictive covenants.
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