November 8, 2021
How to benefit from an initial-year electric vehicle charging station tax credit for charging stations installed in 2021.
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November 2, 2021
Why the IRS should offer inventory tax relief to dealerships that use LIFO accounting and had unexpected tax liabilities due to COVID-19 inventory shortages.
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May 10, 2021
Many dealerships are experiencing a significant problem: employee burnout and high turnover rates.
They’re not alone in it either. It’s a common problem in other industries as well. With the pace of change ramping up, restructuring challenges and inventory frustrations (just to name a few), it’s no surprise that many employees are burned out. In addition to work stress, most of us are facing additional stress outside of work.
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April 19, 2021
By Steve Hewitt
If the last year taught us anything, it was the importance of being agile in business planning. We must be able to shift focus and adjust our priorities at a moment’s notice. A year ago at this time, dealership showrooms were restricted to help slow the spread of the virus.
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February 23, 2021
By Steve Hewitt
As you know, we’re committed to serving the dealer industry, and we’ve been growing our team of industry professionals. Recently, I had a conversation with the newest member of our team, and I thought it would be great to share it with you.
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February 1, 2021
By Kevin Cherney
The world is getting greener. Consumers are becoming more conscious of their environmental footprint and looking for ways to save money. One way they’re doing so is by purchasing electric vehicles. States are encouraging these purchases, too. In California, the governor has taken action to ban the sale of non-electric vehicles after 2035. Furthermore, GM just announced their goal to be 100% EV by 2035.
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October 27, 2020
By Kevin Cherney
Since the Paycheck Protection Program (PPP) was launched to provide relief for struggling businesses in the wake of the COVID-19 pandemic, we’ve had a lot of discussion around what expenses qualify for forgiveness and reporting requirements. However, cash flow planning is something that should be on every dealership’s radar now — if you simply kick the can down the road, you could find yourself in a bind later.
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October 13, 2020
By Steve Hewitt, John Lloyd
By and large, dealers have fared better than expected in the wake of COVID-19. Working with dealer groups around the country, we’ve observed that many lost profits in March and April. Most have made steady gains since then, and the past few months have been strong.
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August 23, 2020
By Mark W. Ayers
Is it just me, or does March sometimes seem like it was over a year ago ? The coronavirus has made just about everything more difficult. But we are resilient people. My wife and I are experiencing firsthand the additional challenges of selling and then building a house this year. Some of the challenges that we are facing are similar, although certainly on a much smaller scale, to what everyone buying and selling businesses is experiencing: virtual meetings to negotiate contracts instead of in-person, questions over vendor supply issues and how that will impact the transaction, reviewing and signing documents electronically, and questions about whether the buyer or seller will be able to fulfill their obligations as a result of unforeseen issues that might lie ahead.
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August 10, 2020
By Steve Hewitt
Welcome to Dealer Conversations! We’re excited to bring you a brand-new blog — a communication channel focused on what’s happening in the dealer industry, from dealership news to insights to trends.
As the firm’s dealership industry practice leader, I’m having conversations with dealers daily. And having worked exclusively with this industry for decades, I’m familiar with industry trends and what’s on your minds. And needless to say, in today’s environment, it’s a lot.
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