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The North American Equipment Dealers Association (NAEDA) and its affiliated associations are committed to helping dealers succeed.

Breaking News
Senators Reach Deal On Six-Year Highway Bill

NAEDA joined dozens of other businesses and associations on Monday in urging the Senate to take a long term approach in funding a highway bill. You can view a copy of the letter signed by NAEDA here. On Tuesday, the Senate reached a bi-partisan, six year highway funding bill.  Read more

Over-documenting: DOJ Introduces New Complaint Form

On Friday, July 17, 2015, the Department of Justice introduced (for comment) a new complaint “form” which is designed to be used by employees who believe that their rights under the Immigration Reform and Control Act have been violated. The Immigration Reform and Control Act of 1986 (IRCA) is designed to prevent discrimination on the basis of national origin and it prohibits the “over-documenting” of employees. “Over-documenting” occurs when an Employers requests that an employee present more or different documents to complete the mandatory I-9 form. For example, an employer who is presented with a valid driver’s license cannot demand that the employee also present a valid passport. IRCA’s anti-discrimination law applies to employers with more than three employees. 

Bottom line, if the documents presented by an employee appear to be authentic and meet the requirements of the I-9 Form, then an employer who asks for additional or different documents unnecessarily exposes themselves to liability under the IRCA. For more information on how your dealership can avoid an allegation of “over-documenting”, contact Natalie Higgins, General Counsel for NAEDA at (636) 349-6206.

NAEDA Issues Supporting Tax Legislation Letter

NAEDA in Action: Letter issued in support of proposed tax legislation which, if enacted, would allow taxpayers without certain financial statements to deduct up to $2,500 for equipment repairs.

Current IRS regulations provide a $5,000 de minimis safe harbor deduction for capital expenditures provided that the taxpayers maintain and file specific financial documents, typically an audited financial statement. Many of NAEDA’s members do not need to file the applicable financial statements given the structure of their businesses. For those businesses, the IRS only provides a de minimis safe harbor of only $500 per invoice or item. NAEDA does not believe that its members or it’s member’s customers should have to bear an unnecessary accounting burden simply to qualify for a more reasonable exemption. Such costs are clearly incurred to keep equipment in an ordinarily efficient operating condition.

NAEDA’s VP of Government Relations, Natalie Higgins, met with Representative Rod Blum’s (IA) office to discuss the measure earlier this month. After providing NAEDA’s feedback on the initial measure, NAEDA issued a letter in support of the proposed legislation. NAEDA’s letter expressed approval of Rep. Blum’s efforts to increase the de minimis safe harbor from $500 to $2,500 per invoice or item. For a full copy of the letter, click here.

Bonus Depreciation Legislation Introduced

Two Senate Finance Committee members introduced separate bonus depreciation bills the last week of June.  Reinstating this capital investment incentive is one of NAEDA’s top tax priorities for this congress.

Sen. Pat Roberts (R-KS) unveiled a proposal to permanently reinstate 50% bonus depreciation (S.B. 1660), which is a companion bill to Rep. Pat Tiberi’s (R-OH) House bill, H.R. 2510.  Sen. Debbie Stabenow (R-MI) has also introduced legislation (S.B. 1667) that would reinstate bonus depreciation for 2015 and 2016.

NAEDA is supporting both these bills and at the same time asking members of congress to also reinstate both bonus depreciation and increased Sec. 179 expensing levels immediately to incentivize equipment purchases throughout the year. Both provisions expired at the end of 2014.

Dealers are asked to contact your lawmakers to restore 50% bonus depreciation and higher Sec. 179 levels. Calls and contacts with your senators and representatives are needed to get these pieces of legislation moving forward. Remember that in August, congress will be on their summer recess and back in their home districts which will the perfect time to raise the need for passage of these bills.

Dealers Are Encouraged To Provide Examples And Impacts Federal Overtime Exemptions in flux

On Monday, June 6, 2015, the Department of Labor issued a 180 page proposed regulation which, if implemented in its current form, will significantly reduce the number of employees who are eligible for administrative and executive exemptions from federal overtime wage laws. This broad-sweeping proposal will affect employers of all types- an anticipated 11 million American employees who are currently exempt from overtime wages would no longer be exempt under the proposed regulation. Under current federal wages laws, the earning threshold for an employee to qualify for an overtime wage exemption is $23,660.00, annually. Under the proposed regulation, however, employees would have to earn at least $50,440.00 annually to be eligible for an overtime pay exemption. In addition, the proposed regulation requires employers of exempt employees to provide annual wage increases based upon the rate of inflation and/or another specified rate (set by the Department of Labor).

NAEDA Thanks Congress For Passage Of Trade Promotion Authority

Many thanks to members of Congress who supported the passage and signing into law the TPA legislation. Dealers if you have not done so, please take time to reach out and thank members of Congress who voted for the TPA bill. It is especially important that these members hear directly from their constituents in their states. Click here for every member of Congress who voted yes on TPA and the contact information for their relevant staff. Please be sure to send your thank yous to these groups. NAEDA, plans also to stay engaged over the weeks and months ahead as the TPP and other U.S. trade negotiations move forward.

LIFO COALITION Update and Urgent Action Needed

Senate Finance Committee Chairman Orrin Hatch (R-UT) has appointed Working Groups to consider various elements of tax reform, and report back to the full Committee in May with policy recommendations.  The Working Group on Business Tax Reform is co-chaired by Senators John Thune (R-SD) and Ben Cardin (D-MD).   The LIFO Coalition, of which NAEDA is a member, briefed the staff of that Working Group on LIFO on March 13th, and provided them with a detailed Fact Sheet on LIFO.  We also submitted a separate comment letter to the Working Group, responding to the broad principles for tax reform set out by Chairman Hatch.  You can read the Coalition’s comment letter and attached fact sheet here:

USDA releases data showing how Trans Pacific Partnership benefits all 50 states

USDA recently released data showing the opportunities for agriculture of the Trans Pacific Partnership (TPP) to help boost agricultural exports across the 50 United States. TPP is a 21st century trade agreement that will promote job growth, increase farm income, generate greater rural economic activity, and help expand U.S. agricultural exports to some of the fastest growing countries in the Asia-Pacific region. USDA released its TPP data today after President Obama announced a set of new executive actions to help grow manufacturing in rural areas and to provide new markets to small businesses across our nation's heartland.

Business Tax Extenders Enacted for 2014

The Tax Increase Prevention Act of 2014 (TIPA), signed by the President on December 19, 2014, retroactively extends through 2014 certain business tax benefits that had expired at the end of 2013.  This article describes two of the key provisions that affect equipment dealers and their customers.

Ethanol Education: What you need to know and what you need to tell your customers

To be sure, most consumers do not understand the intricacies of how our fuel choices are set to change in the United States. For example, when consumers were asked about the 15-percent ethanol (E15) gasoline blend by AAA, the biggest U.S. driving organization, 95 percent of consumers were unaware of this fuel choice. Many would argue that many consumers are not even aware that the current fuel on the market contains 10-percent ethanol (E10).


From the NAEDA Office

A Brief Respite From Task Group Updates Legislative and educational opportunities within the coming months.

Last month, I promised an update on the progress of the Governance/Structure Task Group. However, this month, I need to briefly change the focus of this column in order to provide timely information on a couple of upcoming opportunities.


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