Dealer Performance Hinges on Asset Management

Cash. It is required to pay employees and suppliers and can affect a dealer’s need for financing. Cash flow can be as important to an auto dealer’s survival as its profitability. Many dealers can improve their cash flow by properly … Continued

Maximizing Net Profit

We all agree that selling vehicles and service must be your first concern; but to truly accomplish your goal of maximizing NET profit, you must finish the job by controlling costs or expenses. Both selling and controlling of expenses is … Continued

The Aftermath of Downsizing

Downsizing is one of the most difficult decisions that an organization’s leadership has to make. There are a variety of factors that are involved in making the decision about which jobs to keep and which to eliminate. One item that … Continued

Finding Real Profits in Used-Vehicle Inventory

Vehicle inventory is at the heart of every dealership; and as a vital asset, it demands prudent management. In light of the current economic downturn, more and more dealerships are turning to used-car sales to help offset the decline in … Continued

Combat Fraud with Proactive Steps

Recently, a dealership’s office manager was charged with 29 felony counts for allegedly stealing $170,000 over two years. The office manager was a long-time employee who began working for the dealership in the mid-1990s. She perpetuated her fraud by logging … Continued

Finding Real Profits in Used-Vehicle Inventory

Vehicle inventory is at the heart of every dealership; and as a vital asset, it demands prudent management. In light of the current economic downturn, more and more dealerships are turning to used-car sales to help offset the decline in … Continued

New Repair Regulations Give Dealers Options

In late-2013, the IRS issued final regulations governing repairs and capitalization. These regulations are some of the most impactful changes in recent memory. The new regulations became effective on January 1, 2014 and afford taxpayers the opportunity to apply many … Continued

IRS Offers Preventative ID Theft Measures

Identity theft continues to be a common crime with devastating consequences for victims. Recently, the IRS has made headlines due to the sheer volume of individuals filing fraudulent tax returns and collecting refunds with someone else’s identity. Furthermore, these cases … Continued

30-Year-Old Tax Debt Still Actionable

Most people think that the IRS reach for tax debts extends only three to seven years. In some respects, that view is correct in that the IRS can only audit individual tax returns that are three years old – and … Continued