Auto Dealerships

The 2018 gift tax return deadline is almost here

Did you make large gifts to your children, grandchildren or other heirs last year? If so, it’s important to determine…

Audits home in on cybersecurity

In 2018, U.S. organizations that suffered a data breach lost an average of $7.91 million as a result. That’s the…

Are You Making the Most of Depreciation Deductions?

If you’re looking for a way to lower your tax bill and your dealership owns real estate, a cost segregation…

How to report stock compensation paid to nonemployees

The accounting rules for reporting stock compensation have been expanded. They now include share-based payments to nonemployees for providing goods…

Auditing cashless transactions

Like most businesses, you’ve probably experienced a significant increase in the number of customers who prefer to make cashless payments….

IRS Issues Final QBI Deduction Regulations

The IRS has issued final regulations on determining allowable deductions based on qualified business income (QBI) from pass-through entities. This…

IRS Offers QBI Deduction Safe-Harbor Rule for Rental Real Estate

The IRS recently issued guidance on the new deduction for up to 20% of qualified business income (QBI) from pass-through…

Private companies: Have you implemented the new revenue recognition standard?

Private companies that follow U.S. Generally Accepted Accounting Principles (GAAP) must comply with the landmark new revenue recognition standard in…

M&A due diligence: Don’t accept financial statements at face value

The M&A market was hot last year, and that momentum is expected to continue in 2019. Before acquiring another business,…

What will your marginal income tax rate be?

While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could…