How Roger Approaches Working with an Existing Auto Dealership for the First Time скачать в хорошем качестве

How Roger Approaches Working with an Existing Auto Dealership for the First Time

When working with an existing dealer for the first time, the first step is to break everything down to the lowest common denominator, so-to-say. Each entity, and how these related companies interact with each other. Consider whether the interactions are arranged in a tax-wise manner. This has become even more important now in light of the recent Tax Cuts and Jobs Act. Heralded as containing the most sweeping changes in decades, new rules such as the 30% Business Interest Limitation and the 20% Qualified Business Income deduction have turned tax planning on it’s ear. Looking at everything with a new set of eyes can be very . . . well, eye-opening. The same goes for the dealership returns. At the end of the first year’s work, I will be in a position to create a bullet point list of observations on presentation, compliance issues, and opportunities for tax savings. Here’s where my experience really comes to bear. From this lowest common denominator list, I can let the dealer know what concepts must be followed to a “T”, which ones have some wiggle-room, and which ones can be disregarded or otherwise circumvented. Once all of the ideas are on the table, and the dealer understands the individual concepts and how they interact, we come to an agreement on the approach we’re going to take, and we’re off and running. Claim your free auto dealership income tax return assessment at: https://www.rogerrossmeislcpa.com/doe...