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History Of The Industrial Multimeter

Multitester devices have long been used by technicians to make their job simpler. They help maintain the expensive industrial equipments, as they can make accurate electronic measurements for ohms, amperes and volts.
They are available in the digital and analog variations. However, the digital multi meter is more commonly used, as its data can be easily stored and monitored with the help of computer.
These days, you can choose between these devices that are handheld and portable or the wired, bigger ones that are packed with features. However, electronic measuring devices were not always easy-to-use and compact. The first equipments that was used to measure volts, ohms, etc. dates back to the 1800s.
In 1820, the galvanometer was the first device that was used to measure voltage and resistance. It applied the concept of the Wheatstone bridge and basic resistance of electricity. However, it had too many parts, and hence, could not be used on the field; plus, it was very slow. Soon the Weston meter replaced it. Its specialty was that, it used a fine metal spring and built-in field magnets to give measurement proportions. Sometime later, this technology was used in combination with the former one, making the measurements faster and simpler. With a series of shunt resistors added, it could calculate multiple ranges of currents with one movement.
However, automotive multimeterwas not invented until the 1900s. Donald Macadie, the British Post Office engineer, invented an instrument that could easily measure amperes, ohms, and volts all together. It was made from voltage and precision resistors, along with moving coil meters. These were known as the avometers, and were widely used in all facilities.
The vacuum tube voltmeters, also known as the valve voltmeters, were next in line of invention. Industries everywhere accepted these, as they were to be used with circuits that had high impendence. However, it specifically worked with 1 megohm circuit impendence, and hence, sometimes had problems with the lower ones. With minor changes in the voltmeter, the field effect transistor was introduced, which was followed by the analog transistor. They came enabled with varied features like capacitance, frequency, duty cycles etc. and became a must-have tool for every technician.
Lately, you will find multimeters that are enhanced with so many more functions and features. Some, like the HVAC multimeter, even come with specialized applications like the thermocouple probe, computer connectivity, inductance, etc. Hence, your everyday industrial device for measuring electrical current has come a long way from a galvanometer to the digital handheld multimeter.

Construction Industry Accounting & CPA Services in Houston TX

Construction Industry Accounting & CPA Services in Houston TX

For years we have worked with all types of construction contractors… everything from commercial and residential general contractors, to subs like roofers, electricians, commercial plumbers, HVAC and utility contractors. You could say it’s in our blood.

You see, our founder’s (Jim Trippon CPA) father was a custom homebuilder, and Jim grew up pounding nails. In fact Jim could install 3 tab shingles and roof flashing before he ever got his first drivers license, let alone before he went to college to become a CPA.

We have found that very few CPAs have a passion for the construction industry. Most don’t even know that many of their contractor clients qualify for a special deduction to save them 6% on their federal income tax every year.

What we’re talking about is the Domestic Production Activities Deduction (which can be deducted using IRS Form 8903). This special deduction allows many construction contractors to deduct 6% of net income derived from qualified “production” activities. There are some limitations, but most construction contractors that do new construction projects can qualify.

There has never been a more crucial time for construction contractors to pay more attention to their tax preparation and tax accounting details. By reducing their tax liability, construction contractors can protect themselves against increasing taxes and income assessments by the IRS. Here are a few tips on how to effectively reduce your tax liability in the construction industry.

Maximize capital asset deductions. Recent tax laws have increased the fixed asset cost expense up to $250,000 for construction contractors. Construction contractors can take advantage of this deduction as long as less than $800,000 of the company’s assets are in service within the given year.

Capital Gains & Dividend tax rate increases. Under the current law, expect it to change with the new presidential administration, capital gains and dividend are taxed at 15%. This issue is something that you will definitely want to consult with your tax CPA. These tax rates are under close watch Congress and the presidential administration.

Tax Rebate. Most of the economic stimulus checks have been delivered. However, there are additional funds that may be available. The economic stimulus checks were actually an advance on the 2008 tax liabilities. The amount of each person’s check was based on income from 2007 & 2008. So if there was significant changes in income there may be additional rebate funds that are available.

Depreciation Deductions. Investments in equipment can be partially deducted in the first year of use. Contractors are allowed to deduct of the cost investments made in a calendar year during the first year of use. Construction contractors can then depreciate the remaining half of the asset purchase over its normal useful life.

Beware of the “Kiddie Tax.” Since most construction contracting companies are family owned and operated, the kiddie tax has been extended to require excess unearned income of full-time students under 24 years of age, to be taxed as marginal income at the parent’s current tax rate. This may not apply if the student’s earnings equal of their support. You will definitely want to consult with your tax CPA regarding retirement planning options and monetary gifts to avoid increasing your tax liability on dependents over 18 years of age.

If you would like to work with a CPA firm that understands the construction industry and will work hard to make sure you do not pay a penny more than you owe give us a call at 713-661-1040.

At Trippon & Company CPAs we use our 30 years of experience in construction industry to minimize your Federal tax liability. Call us at 713-661-1040 and put our experience at work for you TODAY!