Across the country, dealers face mounting financial pressure. Does your dealership struggle with government compliance issues; hiring, retaining and managing employees; satisfying customer expectations; and overall increases in the cost of doing business? Are you taking advantage of tax strategies to help reduce your taxes and put more money toward your bottom line? We will work with you to find effective strategies to minimize your dealership's taxes.
There are a number of tax strategies at your disposal, which can either permanently save significant dollars or defer taxes until a later date. A reduction in taxes paid now can be invested and allowed to build wealth. Some of the strategies we'll review include trade discounts, treatment of advertising assessments, cost segregation, new and used car and parts LIFO inventory calculations, and treatment of prepaid expenses. We will also help you address regulatory issues, including treatment of demonstrator vehicles, cash reporting requirements, producer-owned reinsurance companies, extended service contracts, tool allowance plans, uniform capitalization calculations, and manufacturer assistance payments and incentive bonuses.
Eide Bailly can put tax strategies to work for you - minimizing your tax liability. For more than 50 years, we have helped dealers minimize their tax liabilities and address regulatory concerns. Let us put these tax strategies to work for you.
