Are You Prepared for a DOL Hourly Wage Investigation?
The Department of Labor (DOL) is responsible to ensure compliance with federal laws regarding wage payments and job classifications. Over the years the DOL has particularly targeted automotive dealerships for such investigations. It has recently come to our attention that the DOL is once again turning its scrutiny to auto dealers. Several clients have received DOL audit letters requesting information about their employees’ wages and status.
This article includes tips on how to be compliant and proactive in case an investigation arises.
Choose the right the dealership Buy/Sell dream team
You wouldn’t dream of taking a trip down the Amazon River without the proper guides. Navigating the waters of a major M&A deal, regardless of the side of the transaction, could be almost as treacherous! Just as you would not rely on a single guide for such a jungle trek, you also need to assemble a team with various skill sets and expertise to ensure the success of your merger deal.
This article will share where you can find your M&A dream team, the qualities to look for, and the role of your accountant.
How tax code changes impact auto dealers
Late last year, Congress moved to make many of the so-called “tax extenders” permanent incentives under the tax code. These changes will impact your dealership and your annual tax planning in the year ahead. For example, the new rules will allow dealers and their customers to expense a larger portion of business-equipment purchases, and they also extend an $8,000 first-year depreciation provision.
This article shares insight on how the tax code changes affect the automotive industry.