Auto Dealerships

Close-up on financial statements

There are three types of financial statements under U.S. Generally Accepted Accounting Principles (GAAP). Each one reveals different, but equally…

Comparing internal and external audits

Businesses use two types of audits to gauge financial results: internal and external. Here’s a closer look at how they…

First Quarter Industry Newsletters

Quarterly collection of current topics, news alerts and industry updates. Business Valuations Newsletter – March 28, 2019 Construction Newsletter –…

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…