Automotive Sector Knowledge
We understand dealerships. Automobile, truck, motorcycle and recreational vehicles all sell high value assets directly to consumers. They require a CPA firm who knows their language and how to:
- Read factory financial statements
- Manage inventory and LIFO reserve calculations
- Measure indicators; i.e. F & I penetration, parts and service performance, extended warranty
- Conduct real estate cost segregation and analysis
- Plan for a dealership sale or liquidation
- Develop family transition and gifting strategies
- Provide audit, review and internal controls
- Plan tax strategies and file returns
Why Do Dealerships Need an Industry Accountant?
They operate a business that provides a product that has pricing and costs which are publicly disclosed. A dealer’s profitability is made with efficient inventory management, service department sales, financing penetration, managed land costs and tax planning. We know how to review and advise every aspect of a dealership.
Our Industry Dedication – Driving Force Auto Dealer Consulting Group
Our firm is a charter member of the Driving Force Auto Dealer Consulting Group. Driving Force is a consortium of CPA firms throughout the U.S. who concentrate on the automotive sector. We meet throughout the year to exchange ideas and bring in industry advisors to keep us on the cutting edge. We use each other’s firms when a dealer has a unique need. There are no dealership issues one of our Driving Force members cannot solve.
What Do We Provide at the End of the Day?
We help dealers minimize taxes, increase profits and preserve wealth. Your accountant might be a great person, but are they equipped to handle all of your dealership’s needs at this current time? We never like to lose a client, but sometimes dealers need different providers as they grow, shrink or change. Call us to see if you might need to consider a fresh perspective.