Dealership Insight Series: Tax Reform - Dealership Tax update

Course Description:
The Tax Cuts and Jobs Act continues to have an ever-changing impact on taxpayers as both proposed and new regulations are being issued. Section 163(j) was amended by the TCJA but recently issued Proposed Regulations have raised a number of potential issues and planning opportunities for Dealerships. Additionally, the Section 199A deduction provides new potential tax savings opportunities while revisions to the rules regarding business losses and certain employee expenses may have a negative impact on the tax liability of Dealerships and their owners. Certain provisions of tax reform have complicated tax issues surrounding reinsurance. This webinar will provide an overview of the tax reform provisions impacting Dealerships, considerations and possible next steps.

Learning Objectives:

  • Identify the current state of tax reform
  • Review the proposed regulations for section 163(j)
  • Discuss the final regulations for section 199A and other tax reform related guidance
  • Discuss reinsurance changes associated with tax reform
  • Outline how these changes directly impact dealerships

Presenters:
Adam Sweet, JD, LLM, Principal
Adam has extensive knowledge in the area of partnership tax including interpreting partnership agreements, allocation and distribution provisions, and issuing profits interests. He is also experienced with both the buying and selling sides of domestic and foreign joint ventures, and he assists with IRS controversy matters, including IRS exams and appeals hearing.

Andrea Mouw, JD, Principal
Andrea has more than 12 years of tax experience including federal, state, and international tax issues. She provides technical analysis and assists clients in resolving accounting method issues related to income and expense recognition, capitalization, cost recovery and inventories as well as identifying and adopting appropriate accounting methods and filing accounting method change requests (Form 3115). Andrea also provides guidance regarding the Section 199 domestic manufacturing deduction and is familiar with the rules regarding the taxation of financial products and alternative investments.

Brittany Dunn, CPA, Partner
Brittany helps our clients understand how tax law impacts their business and assists them with planning to ensure their tax burden is no larger than required. She leads clients through the tax consequences of their start-up all the way to succession planning of their business, and every step in-between. Brittany provides income tax planning and compliance services to a variety of clients including multi-state dealerships, retail businesses, manufacturers and individuals.

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