- In this issue, “Dealer Digest” takes a look at the uncertain future of dealer reserve auto financing. It also discusses why, at least in the near term, driverless driving will not likely be the main benefit of driverless cars, and why, with more young buyers entering the automobile market, it might be time for dealerships to overhaul their showrooms — and the way they sell vehicles.
- 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.
- The AutoTeam America CEO/CFO Forum was designed to bring a wide variety of timely educational programming to dealers along with strategies and perspectives which can assist them in their day-to-day operations.
- The Financial Accounting Standards Board (FASB) endorsed two US generally accepted accounting principles (GAAP) alternatives for private companies, which related to accounting for goodwill and a simplified hedge accounting approach for certain interest rate swaps.
- Baker Tilly’s dealership services team of tax professionals has compiled a list of dealer-specific tax considerations. Please keep in mind that your goal should be to maximize your long-term wealth and profitability; decisions on tax policy are secondary considerations to this goal.
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