Headlights: Autumn 2022
A publication of the Auto CPA Group www.autocpa.com | 1-800-4autocpa The Alternative Fuel Vehicle Refueling Property Credit Barton D. HaagAlbin, Randall & Bennett, CPAs Ford Motor Company recently announced an ultimatum to dealers wanting to be electric vehicle dealers: Become certified to sell fully electric vehicles and invest in the infrastructure necessary to sell them, or […]
Headlights: Spring / Summer 2022
A publication of the Auto CPA Group www.autocpa.com | 1-800-4autocpa Overcoming Obstacles Impacting Dealership Profits and Valuations Tasha Sinclair, CPA/ABV Tetrick & Bartlett, PLLC Leading publishers of Blue Sky multiples agree that buyers have shifted the application of Blue Sky multiples from historical adjusted profits of the last 12 months to a three-year average of […]
Headlights: Winter 2022
A publication of the Auto CPA Group www.autocpa.com | 1-800-4autocpa Finance Department Profitability Aaron Winiarz, CPA Aaron Winiarz A proactive and profitable finance department is a vital part of today’s dealership. The current business environment, in which front-end gross profits are higher than normal due to the shortage of vehicles, may not last forever, and […]
Inventory Price Index Computation (IPIC) on LIFO for Automobile Dealerships
By Scott Lewis, CPA, MSA If an automobile dealership has elected New Vehicle LIFO (Last-in, First-Out), chances are that they are using the Alternative New Vehicle LIFO method. The Alternative New Vehicle LIFO reserve method creates a tax deferral for the dealership. LIFO is based on rising prices and sometimes, rising inventory levels. Generally, when […]