AFC
Showing 129–144 of 231 results
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S corporation payments: Salary or distributions?
Winter 2014
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 415
Abstract: Many dealerships elect to be S corporations because these legal structures offer the best of both worlds. Like C corporations, S corporations limit the dealer-owners’ liability. But S corporation dealership income flows through to the owners’ personal tax returns, as in a partnership. So, S corporations allow owners to escape the double federal taxation that burdens C corporations. This article explains why it matters and what factors to consider in deciding what to allocate to owners compensation — along with components the IRS considers in determining reasonable compensation.
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Your breakeven calculation can be a planning breakthrough
Winter 2014
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 640
Abstract: Calculating a dealership’s breakeven point can accomplish more than just learning whether the business is above water. The process can help the dealer monitor various aspects of the operation and grow the business with confidence. This article illustrates how to perform the calculation to recoup an investment or measure the impact of a cost reduction.
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To catch a thief – How dealer-owners can curtail employee theft
Winter 2014
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 544
Abstract: Many dealers are the victim of employee theft or dishonesty without knowing it. If strong internal controls aren’t in place, many employee indiscretions are too well hidden to attract attention. This article discusses how to perform a “mini-audit” of the business office, showroom, F&I department, parts and accessories stockroom, and service bay.
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Sizing up your payroll for health care reform
Winter 2014
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 861
Abstract: Many dealerships are unsure of how the Affordable Care Act (ACA) will affect their operations. This article offers some guidance for 2014 and beyond. It defines “small” vs. “large” employers and their different responsibilities. Large employers must offer “affordable” health insurance of at least “minimum value” (again, those terms are defined), while small employers have other options. But a sidebar notes that the tax credit for small employers may be limited.
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Should you cut the F&I department?
Fall 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 429
Abstract: Some dealers may have tried to lower overhead and customer wait times by eliminating the finance and insurance (F&I) department. But not every dealer should make such a radical move. It’s important to carefully weigh the pros and cons before cutting F&I. As this article explains, one option is to merge the sales and F&I departments, creating a one-stop shopping experience. But training salespeople in specific F&I-related tasks would become essential.
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Collaborative expense reviews pay off
Fall 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 554
Abstract: As the market revs up, it’s important to resist the temptation to splurge. Dealers should spend as if they were still operating in a recession. To get a better handle on cost containment, they should consider incorporating collaborative expense reviews into their weekly management meetings. This article explains how collaboration can foster more disciplined spending.
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Ethics policies – A code to sell by
Fall 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 539
Abstract: It’s essential that a dealer’s top management act ethically, but moral behavior shouldn’t stop there. A formal code of ethics that encompasses industry standards can help dealers communicate — and emphasize — their values. Also, related policies and procedures provide employees clear-cut directions. This article discusses industry and state ethical codes, along with some additional guiding principles.
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Operate each day like it’s your last – Sale-ready dealerships can fetch more and sell faster
Fall 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 859
Abstract: Automotive industry experts report that buy-sell new-car activity is up and that average dealer earnings are at all-time highs. These trends are good news for owners thinking about retiring or selling their dealerships. Even if they’re not, it’s always a good idea to run a business “sale-ready” to maximize return on investment. This article suggests how to do so by focusing on such items as the physical plant, profit margins and overhead expenses, and professional management. A sidebar discusses some of the factors that drive a dealership’s value.
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Put social media 2 work 4 U with a formal policy
Summer 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 287
Abstract: Most dealers already use social media to reach out to new and existing customers. But many lack a formal policy for this technological trend. Without one, they could have a hard time disciplining employees for any online abuses that might occur. This brief article describes some of the elements that such a policy should include.
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Creativity not encouraged – Don’t take chances with revenue and expense recognition
Summer 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 818
Abstract: Accounting is time-sensitive. The IRS and Financial Accounting Standards Board (FASB) have established strict cutoffs for recording revenues and expenses. Dealers who are playing timing games to lower taxes or flatter results may find that their creative accounting can come back to haunt them. This article addresses how the rules apply to a variety of different recording situations, and the key role that auditors play in enforcing the rules.
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What’s up with your DOCs?
Summer 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 552
Abstract: Many dealership owners skim over daily operating control reports, or “DOCs,” every morning, but do little else with them. The numbers on the report are ballpark at best, they reason, so it wouldn’t be smart to base business decisions on them. But the data in the DOCs is as good as the procedures the dealer puts in place to collect it. This article shows how dealers can use the wealth of information these reports contain for decision making and planning — provided they exercise the discipline necessary to collect the data on a near real-time basis.
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Taking command of your internal controls
Summer 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 843
Abstract: Every dealership is at risk for theft and financial misstatement. These threats are especially high if a store lacks formal, regularly reviewed internal controls. This article offers some ways to take command of them. It discusses conventional safeguards, such as passwords, alarms and locks, and operational controls, such as checks and balances, segregation of duties and background checks. A sidebar offers five easy fraud prevention tips.
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Are you ready for the green revolution? How to evolve as fuel efficiencies improve
Spring 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 276
Abstract: Automakers are working toward ever-higher fuel-efficiency goals, and this “green revolution” will likely continue. This brief article offers ways for dealers to evolve as fuel efficiencies improve: training service department personnel on the latest fuel-efficient technologies; integrating fuel-efficient parts into inventory; and helping customers further enhance fuel efficiency.
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Plan your estate now, save taxes later
Spring 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 652
Abstract: The estate tax provisions of the American Taxpayer Relief Act of 2012 (ATRA), combined with dealership values that continue to be relatively low, provide significant tax-saving opportunities for dealers in 2013. This article looks at the higher lifetime gift and estate tax exemption and rate and notes that it’s important to start estate planning early to maximize tax-free transfers of dealership assets before they appreciate. It also discusses dealership valuation, family limited partnerships and grantor retained annuity trusts.
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Keeping an eye on dealer review sites
Spring 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 681
Abstract: For dealers who don’t know what’s being said about them on online dealership review sites — or don’t have a strategy in place to quickly combat unfair reviews or appease disgruntled customers who have a legitimate beef — this article should serve as a wake-up call. It explains the threat from negative reviews, whether fair or unfair, and how a dealership should respond.
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Extended depreciation-related deductions are good news
Spring 2013
Newsletter: Auto Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 856
Abstract: The American Taxpayer Relief Act of 2012 (ATRA) has extended both expanded Section 179 expensing and 50% bonus depreciation through 2013. This article details the benefits of each tax reduction tool and explains how they can benefit dealers both as buyers and as retailers. But it also notes that ATRA might result in higher taxes for some dealership owners.