Mike Russell/ETS Solutions
Mike Russell is a technology entrepreneur with over 13 years of experience in the IT industry. Mike is the President and Founder of ETS Solutions, your trusted technology advisor. Mike took his experience managing companies and law firms and formed Elite Telecom Services in 2002, rebranding his company to ETS Solutions in 2014 to include Cloud Services. Mike and his team consult with firms about their technology configuration and assess any pain points (cost, relocation, phone hardware, bandwidth needs). ETS provides multiple solution options so companies can make the ideal business decision. The ETS team then provides ongoing customer service for the length of the service. Mike has had much success and been recognized for many accomplishments over the years, including the Channel Partners 360 Award in 2013. Mike has a B.S. Degree from UNC-Chapel Hill and an MBA in Accounting & Finance degree from Kennesaw State University.
In the flurry of tax changes that happened for 2016, one of the most overlooked deductions by small business owners is the Section 179 tax deduction. This deduction was set up to allow business owners to deduct many different types of equipment used for their business. In fact, there were certain loopholes within this tax code to allow for the purchase of certain vehicles as well.
The IRS has set the Section 179 tax deduction limit in 2016 for $500,000 and the overall phase out is $2 million. There was a little known act that got enacted called PATH (Protecting Americans From Tax Hikes Act of 2015). PATH presented business owners with a significant opportunity to purchase software, technology, and equipment and if structured correctly expense all of it off in the year they pay for it versus depreciating it down the road.
One of the most frequently asked questions is when businesses lease or buy equipment is whether or not they can take advantage of the Section 179 deduction. Obviously, you want to talk with your financial advisor or your accountant, but if you purchase the equipment and put it into use this year there is a good chance that your property will qualify. Here is a short list of items that may count:
- Computers and Software
- Office Equipment and Fixtures
- Large Business Equipment and Machines
- Business Vehicles
- Single-Purpose Structures
- Manufacturing Tools
As most small businesses are doing well right now, being able to buy and expense computers, equipment, etc. may allow you capture back a bunch of your cash flow in immediate tax savings. Don’t forget to look closely under the hood at this piece of the tax code as a small business owner. This should give you 179 reasons to investigate this further.
Brandon Lewis/Benchmark Public Adjusting Group
COO and Partner of BenchMark Public Adjusting Group. As a 22 plus-year Atlanta business leader and executive coupled with nine years in the insurance advocacy profession, Brandon Lewis has forged a unique industry crossover. Brandon brings with him the experience of handling over 15 major natural disasters globally.
Brandon is a member of NAPIA and the Founding Treasurer of GAPIA. His other participations include the Atlanta Apartment Association, where he is a member and has educated the association on disaster preparedness. He is also a member of the National Suppliers Council. He has been a guest speaker at Emory University and worked closely with the Red Cross. Brandon attended both Pace University Lubin School of Business and Hofstra University. (more…)
Shantel Khleif/Imagine Media
Stemming from a deep love and respect for small businesses, Shantel built Imagine Media to give an online voice to companies who wouldn’t otherwise have the time to do so. As the previous owner of a Wedding Planning company, and as the current co-founder of an Non Profit aimed at assisting students in need, Shantel is a go-getter through and through with a huge heart. When she’s not networking her way through Atlanta, selling our services to business owners in need, and motivating the team to be the best that they can be, you can find Shantel exploring Atlanta with her big and lovable pup, Gunnar.
The Shrimp Tank team is humbled by their dream becoming a reality at the Mill Creek High School DECA Event last Thursday. After Christopher Hanks, the Founder and Executive Director of the Kennesaw State University Entrepreneurship Center, taught what “SUCCESS” looks like for an elevator pitch using song lyrics, the 100+ students were able to analyze pitches by three student entrepreneurs. (more…)