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Keep your guard up at tax time

$225.00

SKU: AFCfa093. Category: .

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Abstract: This year, profits are down and losses up for many dealerships — maybe this is a year, one might reason, that Uncle Sam, and his IRS agents, might give dealerships a break. Forget about it: small business audits have been on the rise. But there are steps a dealer can take to satisfy an IRS auditor, including proving an intent to make a profit, even when losing money; keeping salaries reasonable; tracking cash sales; and keeping accurate records of previous years’ LIFO invoices.

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