AFC

Showing 97–112 of 223 results

  • 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.

    Read More

  • 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.

    Read More

  • 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.

    Read More

  • 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.

    Read More

  • 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.

    Read More

  • 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.

    Read More

  • 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.

    Read More

  • 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.

    Read More

  • Looks count – IRS wants “image money” included in a dealership’s gross income

    Winter 2015
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 374

    Abstract: One way that some automobile manufacturers motivate dealerships to renovate, modernize and upgrade their facilities is by encouraging them to participate in “facility image upgrade programs.” These programs often provide payments to dealerships to help defray costs. Some dealerships wonder how these payments — referred to by the IRS as “upgrade image support” payments and commonly called “image money” by dealers — should be treated from a tax perspective. This article discusses a recent IRS General Legal Advice memorandum clarifying its position on this issue.

    Read More

  • The earnout provision – If negotiations stall, consider this …

    Winter 2015
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 603

    Abstract: The recent upsurge in dealership merger and acquisition activity in many parts of the country is expected to continue in 2015. For those dealers thinking about being a seller (or buyer) this year, it’s a good time to think about alternative deal structures that might ease the negotiation process. One strategy to consider when sales negotiations falter is adding an earnout provision to the purchase agreement. This article explains how an earnout works and how, properly executed, it can provide protection for the seller.

    Read More

  • Weighing the benefits of LIFO

    Winter 2015
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 676

    Abstract: Many dealerships use an inventory accounting method known as “last in, first out” (LIFO) to defer their income tax liabilities. But LIFO requires some additional recordkeeping and may make a dealership appear less profitable to outsiders. This article compares the tax benefits of LIFO with the downsides, including its effect on financial statement reporting.

    Read More

  • Should you revamp your sales compensation model?

    Winter 2015
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 814

    Abstract: The Internet has fundamentally changed the role of the automobile salesperson. When customers walking in the door already know which vehicle they want to buy and how much they will pay for it, this tends to minimize the need for a traditional salesperson. Given this, many dealerships are re-examining the proper role of their salespeople, as well as their sales compensation model. This article discusses a sales model that combines base salary with performance-based incentive pay. It also offers a few guidelines for constructing a sales compensation plan, while a sidebar looks at what automobile dealership salespeople across the United States earn.

    Read More

  • Try these four 21st century marketing tactics

    Fall 2014
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 434

    Abstract: In today’s always-on, wired world, having a digital marketing strategy has become practically essential. This strategy should focus on attracting new customers by showcasing inventory to buyers who are shopping online, as well as building long-term relationships with existing customers so as to remain top-of-mind when they search for their next vehicles. This article discusses four marketing tactics to consider, involving search engine optimization, e-newsletters, mobile apps and social media.

    Read More

  • Selling your dealership – Earnout provisions may give buyers assurance

    Fall 2014
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 670

    Abstract: Businesses in some parts of the country remain difficult to sell in the current economy, even in an up market for auto dealerships. But, when negotiating a purchase agreement, adding an earnout provision — which commits the buyer to make additional payments to the seller if the business achieves agreed-upon financial targets after the sale — can smooth out a rough road and give the buyer extra incentive to “take the plunge.” This article explains the potential benefits, along with risks to look out for.

    Read More

  • Which retirement plan is right for your dealership?

    Fall 2014
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 578

    Abstract: Recent studies have indicated that many Americans aren’t saving nearly enough for retirement. Dealership owners can help their employees save for retirement by offering a retirement plan. Doing so also can yield tax benefits, serve as a valuable employee recruiting tool and help boost employee retention. This article discusses three of the most popular types of retirement plans: 401(k) plans, SEP plans and SIMPLE IRAs.

    Read More

  • Pumping up profitability

    Fall 2014
    Newsletter: Auto Focus

    Price: $225.00, Subscriber Price: $157.50

    Word count: 848

    Abstract: Dealerships can sell truckloads of vehicles and still run into problems if owners lose sight of the bottom line — the overall profitability of the sales they’re making. This article discusses a number of ways to boost profitability, including moves related to managing inventory, choosing dealer management software, and joining an automotive dealership “20 Group.” A sidebar explains how dealers who are planning new facilities or improving existing ones can benefit from a cost segregation study.

    Read More