AFC
Showing 97–112 of 231 results
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Why you need to formalize your retirement plan policy
Winter 2016
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 428
Abstract: When a dealership offers a retirement plan to employees, it has certain fiduciary responsibilities as the plan’s sponsor. This article explains the benefits of having an investment policy statement in place. It also discusses the advantages of having an additional educational policy statement for the dealership’s retirement plan.
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Take a hard look before adding a financial executive
Winter 2016
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 661
Abstract: Bringing on a CFO or a controller to handle the financial operations at an auto dealership is a big decision. This article describes a number of factors that management must consider, including the dealership’s size, the benefits of the hire and the time and money involved in such a commitment.
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Key performance indicators – Which ones should you measure and monitor?
Winter 2016
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 599
Abstract: Key performance indicators (KPIs) are quantifiable measurements of a dealership’s financial performance that can be used to gauge progress toward goals. This article discusses the variety of KPIs and how dealer-owners can choose the right set to measure performance at their stores.
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The center of everything – Negotiating your next DMS contract
Winter 2016
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 812
Abstract: A dealership management system (DMS) lies at the core of an auto dealer’s operations. It also represents both a significant IT expense and a possible long-term commitment. To manage these costs, a dealer-owner must be diligent when choosing a system and renewing a DMS contract. This article offers strategies for negotiating the best deal with a DMS vendor. A sidebar emphasizes the importance of getting the right employee training and technical support for a DMS.
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Estate tax update: What you should know
Fall 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 331
Abstract: This short article covers three new estate tax–related developments: the portability election, estate tax closing letters, and reporting of fair market values.
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How to monitor and manage your dealership’s online reputation
Fall 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 678
Abstract: More and more people today are taking to the Internet to share their thoughts about the auto dealerships they do business with. So it’s critical for dealerships to have a strategy in place for monitoring what customers and prospects are saying online about them. This article discusses developing an online monitoring strategy that uses free and subscription monitoring tools. A sidebar discusses how to handle bad online reviews.
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Your dealership real estate may offer you another tax advantage
Fall 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 630
Abstract: Dealership real estate can save some owners money when a cost segregation study is performed. This article describes how it can make them eligible to retroactively save taxes through accelerated depreciation if they purchased real estate, built a new showroom, renovated their facilities or expanded their property in the last decade or so.
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Critiquing your management team – Take a thoughtful look back before looking ahead
Fall 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 852
Abstract: For many auto dealers, year end is a good time to assess their stores’ performance over the previous year and set new goals for the year ahead. One way to do this is by conducting a year end review of the performance of the management team. This article explains how a 360-degree review of managers works. A sidebar discusses how to tie managers’ goals to financial performance.
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Heeding ACA’s information reporting deadlines
Summer 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 301
Abstract: If a dealership offers minimum essential health care coverage to employees as required by the Affordable Care Act (ACA), it may soon be required to report coverage information by filing an information return with the IRS and providing a statement to employees. This article reports the requirements for applicable large employers and their reporting deadlines.
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Watch your step when setting up an FLP
Summer 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 707
Abstract: Family limited partnerships (FLPs) are a tool that can be used by dealership owners to accomplish a wide range of financial, succession and estate planning objectives. But care should be taken when establishing these arrangements because the IRS has taken a particular interest in them in recent years.
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Compilations, reviews and audits – Not all financial statement preparation is the same
Summer 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 620
Abstract: When preparing financial statements for auto dealerships, CPAs engage in financial compilations, reviews and audits. Each endeavor has its own level of requirements, depth and outcomes. This article explains the differences.
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FTC cracks down on deceptive advertising practices
Summer 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 851
Abstract: Advertising is the main tool dealerships use to draw customers into the showroom. And dealerships must follow strict guidelines to ensure their advertising practices aren’t considered untruthful or deceptive. This article describes the costs of FTC violations in the agency’s recent “Operation Ruse Control,” practices deemed illegal by the FTC, and advertising tips and guidelines. A sidebar highlights the laws that govern dealership advertising.
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5 F&I best practices
Spring 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 328
Abstract: Owners and managers who can identify the highest margin finance and insurance (F&I) products, as well as the products their customers are most likely to buy, will be on their way to finding a source of hidden profits. This article offers five industry best practices for pumping up F&I revenue — and overall dealership profitability.
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Your store could benefit from an operational review
Spring 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 660
Abstract: Many dealership owners and managers spend so much time dealing with the day-to-day tasks involved in running the business that it’s hard for them to see the big picture. One of the best ways to see the proverbial forest for the trees is to perform a comprehensive review of dealership operations, as this article details.
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Beyond the eye of the beholder – How objective is your appraisal process?
Spring 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 608
Abstract: Customers are often wary of trading in their vehicle at a dealership because of what they fear might be an unfair valuation of their car or truck. But trade-ins are important to dealerships because they can be necessary to make a sale. So, when a customer walks in the door inquiring about a trade-in, the dealership better have an effective appraisal process in place.
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Get a jump on succession planning
Spring 2015
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 832
Abstract: Baby boomers are now nearing or reaching what has traditionally been considered retirement age. For most dealership owners, retiring means selling their dealership or passing it on to family members. The key to doing this successfully is implementing a succession plan well in advance of the time they plan to retire. This article includes a discussion of how to launch the process and why now may be a good time to sell a dealership.