- In business since 1990, Sleepy Hollow Group owns three dealerships all located in Viroqua, Wisconsin. Feeling under-served by its former accounting firm, the company decided to seek a new tax services provider.
- On a quarterly basis, Baker Tilly conducts a benchmarking study of auto dealerships. Respondents to the most recent study were primarily dealerships located in the Upper Midwest. This whitepaper summarizes key data as of and for the quarter ended March 31, 2014, with comparisons to the same period in 2013 and to the four quarters ended December 31, 2013.
- For dealers who don’t know what’s being said about them on online dealership review sites — or don’t have a strategy in place to quickly combat unfair reviews or appease disgruntled customers who have a legitimate beef — this article should serve as a wake-up call. It explains the threat from negative reviews, whether fair or unfair, and how a dealership should respond.
- There has long been confusion among dealerships about the tax treatment of tangible property improvements on things such as buildings, machinery, equipment and vehicles. Specifically, should these costs be capitalized and depreciated, or can they be deducted immediately? The IRS recently issued final regulations addressing repairs and maintenance and providing guidance to help dealerships make this determination.
- After several slow years in the aftermath of the financial crisis, auto dealership merger and acquisition (M&A) activity picked up substantially in the United States in 2013 — and one industry source indicates that dealerships are currently priced at all-time highs. This article lists a number of factors driving this trend and discusses the different types of buyers and their motivations. While this is currently an opportune time for sellers, a sidebar points out that, in today’s low-yield investment environment, many automotive dealership buyers see acquisitions as an opportunity for high return on investment.
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