News

Impact of 2017 Tax Reform on Section 179 Accelerated Depreciation

With the 2017 tax bill now approved by Congress, we have clarity on how investing in capital goods will be handled and the 2018 impact on Section 179 and Bonus Depreciation for convenience stores and commercial fueling.  Section 179 and Bonus Depreciation originated during the economic crisis...

23 January 2018
Consumers ready to switch from Passwords to Biometrics

The all-too-common frustration of forgetting a password may soon become a thing of the past, as people become more comfortable with new forms of biometric authentication. Fingerprint, facial and voice recognition are increasingly becoming ways to authenticate a person for access and payments. They...

19 January 2018
Fingerprint authentication moves from phones to payment cards

Visa Pilot in the US enables Fingerprints on Cards to Authenticate TransactionsPayment cards are gaining new capabilities as Visa has launched a pilot of a new dual-interface (chip- and contactless-enabled) biometric payment card with Mountain America Credit Union and Bank of Cyprus. This will be...

19 January 2018
EMV decreased credit card fraud by 66% in US, reports Visa

Visa recently published a report revealing that US merchants that completed the chip upgrade have registered a whopping 66% decline counterfeit fraud in June 2017 compared to June 2015.According to the report, more than 2.3 million merchants, or 55% of storefronts in the US, are currently accepting...

19 January 2018
A look back at 2017 and what's coming in 2018

2017VeriFone EMV SoftwareEMV software for the VeriFone Ruby CI and Commander was released in February 2017.  For those of you who have already upgraded your Point-of-Sale (POS) but have yet to update your software for EMV, please contact your POS vendor as soon as possible.  For those of...

26 December 2017
Merry Christmas and Happy Holidays from Ewing Oil

Ewing Oil’s main office will be closed on Monday, December 25th.   Prices sent out on Saturday, December 23rd will be effective until Tuesday, December 26th 18:00 or Wednesday, December 27th 00:00, depending on when your price normally changes.Our main office will also be closed on...

20 December 2017
What is Section 179 Tax Benefit?

There is a risk that changes to the tax act will result in gas pumps, underground tanks, LED’s and other convenience store equipment costing retailers significantly more.  If the Trump Tax Plan becomes law in 2017, Section 179 benefits may no longer be available to convenience store owners....

10 November 2017
Did you know Section 179 may allow you an annual write-off up to $500,000 for capital expenditures?

 Business owners usually prefer to deduct equipment cost in a single tax year, rather than a little at a time over a number of years. This deduction is known by its section in the tax code, a Section 179 deduction.Under Section 179, businesses that spend less than $2,000,000 a year on...

10 November 2017
As Gas Station Card Fraud Increases, here’s how to cut your Risk

Skimmers at gas pumps are a growing threat and the use of skimmers by fraudsters to steal credit card information is on the rise.  With the three-year extension to update your dispensers with chip-card readers, card skimmers will continue to be a threat until at least October 2020 when...

08 November 2017
Action for First Data Customers - Important Response Requested – Preparation for Visa Claims Resolution Spring Release 2018

In the spring of 2018, VISA will change the Dispute Process which requires Merchants to examine their internal process and adjust to accommodate the new VISA requirements.   A brief summary of upcoming changes are listed below.   If you are currently utilizing either FAX or Mail...

08 November 2017

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